How do I obtain a letter of proof for mortgage lawyer?

[VolvoGirl]

For proof of what?  Turbo Tax doesn't give letters.  Turbo Tax is a self prepared return.

[Oscar10]

Thanks for your response.  We were told by our mortgage loan officer that they wanted our accountant to write a letter confirming my wife has been self employed since 2012.  Since we don't have an accountant and we've been using TurboTax for 8 years, I thought there may be something available here.

[VolvoGirl]

No.  You can't get anything like that from Turbo Tax.  Like I said it is a self prepared return.  They don't sign your return, only you sign it.   They are not the preparer.  Guess you would need to show them your bank records for income and expenses.  Or go to a local accountant.  Or ask them what else they will accept.

[macuser_22]

Find a new mortgage lender or educate them to what a self prepared tax return is.    There is no account other then yourself.   Nobody can give you such a letter.   TurboTax and other tax companies like it have been in  existence for more than  15 years.   About 50 million such tax returns are filed every year.  For a lender to want such a letter (that does not exist) is totally  out of touch with reality.

[Carl]

We were told by our mortgage loan officer that they wanted our accountant to write a letter confirming my wife has been self employed since 2012.

Your mortgage lender is obviously clueless on "proof of income" loan requirements. All they need is proof for the last two tax years. A simple printout of the 2018 and 2019 returns doesn't just give all the prove they need... it's provides *significantly* more than they need.

When you print them make sure of two things for each individual returns.

1) You include the "Electronic Postmark" page proving that the IRS accepted the returns as filed.

2) you physically, with a pen, sign the returns, and the signing date should be the same as the filing/acceptance date shown on the Electronic Postmark page.

Now, how do I know the above?

1) I've lost count on the number for mortgages and refi's I've done over the years. Been there. Done that. Got the T--Shirt.

2) I will be closing on a refi of my primary residence next week, and I've lost count of the absolutely "stupid" things the loan officer asked for, as I proved to them (mostly in their own regulations!) that it wasn't needed.

3) My mother has been in the banking industry for 35 plus years, and I learned what I know about financing and refinancing real estate from her directly. More than once (without my knowledge at the time) she's call the loan officer on my behalf and "educated" them.

[AmeliesUncle]

As a general rule, the person you deal with when getting a mortgage just goes through a checklist of things for you to get.  They don't really understand what things are for and when they are needed.  You should be able to just tell that person "they (the actual underwriters who approve the loan) don't need that".

[PaulaM]

Can you print from your TurboTax return, the Schedule C for your wife's self-employment income? Two years' worth should be sufficient. Give that to your loan officer and ask if that will suffice as you don't have an accountant preparing your return. Sometimes, an explanation of the documents is all the loan officer needs to proceed with the loan process.

@Oscar10