Form 91

Income Analysis Form


For entries with the marker (+ / ), type a '–' for entering a negative amount. Example: –12,345.67.
Click for instructions

IRS Form 1040 Federal Individual Income Tax Return     Yr     Yr
1. W-2 Income from Self-Employment (Form W-2, Line 5) $ $
2. Form 2106 - Employee Business Expenses
     Total Expenses $ (-) $ (-)
     Depreciation $  (+) $  (+)
3. Schedule C - Sole Proprietor Profit or Loss
     Net Profit or Loss $  (+/-) $  (+/-)
     Other Income or Loss $  (+/-) $  (+/-)
     Depletion $  (+) $  (+)
     Depreciation $  (+) $  (+)
     Meals and Entertainment Exclusion $  (-) $  (-)
     Amortization or Casualty Loss $  (+) $  (+)
     Business Use of Home $  (+) $  (+)
4. Schedule D - Capital Gains and Losses $  (+/-) $  (+/-)
     Form 4797 Sales of Business Property $  (+/-) $  (+/-)
5. Form 6252 Installment Sale Income
     Principal Payments Received $  (+) $  (+)
6. Schedule E - Supplemental Income or Loss
     Gross Rents and Royalties $  (+) $  (+)
     Total Expenses Before Depreciation $  (-) $  (-)
     Amortization/Casualty Loss/Nonrecurring Expenses $  (+) $  (+)
     If Using the Rental Properties Full PITI Payment in Qualifying
     Ratios - Add Back Insurance, Mortgage Interest and Taxes
$  (+) $  (+)
7. Schedule F - Profit or Loss from Farming
     Net Farm Profit or Loss $  (+/-) $  (+/-)
     Non-Taxable Portion of Recurring Cooperative & CCC
     Payments
$  (+) $  (+)
     Other Nonrecurring Income or Loss $  (+/-) $  (+/-)
     Depreciation $  (+) $  (+)
     Amortization/Casualty Loss/Depletion $  (+) $  (+)
     Business Use of Home $  (+) $  (+)
8. Partnership K-1 (Form 1065)
     Ordinary Income or Loss $  (+/-) $  (+/-)
     Net Rental Real Estate Income or Loss $  (+/-) $  (+/-)
     Guaranteed Payments to Partner $  (+) $  (+)
9. S Corporation K-1 (Form 1120s)
     Ordinary Income or Loss $  (+/-) $  (+/-)
     Net Rental Real Estate Income or Loss $  (+/-) $  (+/-)
Subtotal of Qualifying Income: $ $

10. Partnership Income from Form 1065
     Depreciation $  (+) $  (+)
     Depletion $  (+) $  (+)
     Amortization or Casualty Loss $  (+) $  (+)
     Mortgage, Notes, Bonds Payable in Less than One Year $  (-) $  (-)
     Other Nonrecurring Income or Loss $  (+/-) $  (+/-)
     Meals and Entertainment Exclusion $  (-) $  (-)
Subtotal for Partnership Income $ $
     Multiply Total by Percentage of Ownership (on K-1)     (%)     (%)
Total for Partnership Income $ $

11. S-Corporation from Form 1120
     Depreciation $  (+) $  (+)
     Depletion $  (+) $  (+)
     Amortization or Casualty Loss $  (+) $  (+)
     Mortgage, Notes, Bonds Payable in Less than One Year $  (-) $  (-)
     Other Nonrecurring Income or Loss $  (+/-) $  (+/-)
     Meals and Entertainment Exclusion $  (-) $  (-)
Subtotal for S-Corporation Income $ $
     Multiply Total by Percentage of Ownership (on K-1)     (%)     (%)
Total for S-Corporation Income $ $

12. Corporation Income from Form 1120
     Depreciation $  (+) $  (+)
     Depletion $  (+) $  (+)
     Amortization or Casualty Loss $  (+) $  (+)
     Net Operating Loss $  (+) $  (+)
     Taxable Income or Loss $  (+/-) $  (+/-)
     Total Tax $  (-) $  (-)
     Mortgage, Notes, Bonds Payable in Less than One Year $  (-) $  (-)
     Other Nonrecurring Income or Loss $  (+/-) $  (+/-)
Subtotal for Corporation Income $ $
     Multiply Total by Percentage of Ownership (from the Corporate
     Resolution or "Compensation of Officers" Section of the 1120)
   (%)     (%)
Total for Corporation Income $ $

Grand Total for Qualifying Income $ $

Income Calculation
YTD Income*  =  $


minus deductions $

(avg. business expenses) $
+ Year 1 Income =  $
+ Year 2 Income =  $
  $
Divided by number of months  $
*YTD income required when calculating commission income



Volume 1
Bulletin 2009-22                           Single-Family Seller/Servicer Guide
 
Form 91
04/01/10