@superuberdriver wrote:
Thank you for the info you posted...we are self-employed schedule C...having trouble getting mortgage qualified because of low AGI thanks to Standard Mileage deductions and Depreciation on our cars...we were told, these deductions cannot be added back to AG income at all...live in Denver CO. Can you advice? Thanks
How the lender views the information is up to them. A good underwriter can consider your PNL statement and cash flow as well as your tax return, since the mileage rate method is often a money-maker. You may need to look at other banks and mortgage brokers. But your tax return needs to report your accurate income and expenses.
