Accepted Tax Forms, Tax Years & Borrower's

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Please note before uploading to LoanBeam:

COMBINATIONS OF TAX YEARS AND NUMBER OF BORROWERS PER APPLICATION LOANBEAM SUPPORTS:

 How many years: LoanBeam templates are designed to support up to 2 years of tax returns in the following combinations;

  • 2018/2019, 2019/2020, 
  • You can also upload 20 alone, but if three years are uploaded (18/19/20), LoanBeam will disregard the aged tax year (18) and only display income for the two most recent years (19/20).

 How many borrowers:

 LoanBeam templates are designed to support one Individually filed Tax Return or one Joint Tax Return. If two sets of individual/joint returns are provided in any combination, you will not have an accurate reading. So, If you have multiple people borrowing, you will need to create a separate LoanBeam application for each borrower.

 List of source documents used by LoanBeam to calculate the income of the borrower:

Note:

LoanBeam does not recognize handwritten documents. Documents must be submitted only in Print only either in PDF or TIFF format. There is no restriction on the size of the files uploaded to LoanBeam.

  • Form 1040 - U.S. Individual Income Tax Return
  • Form 1040A – Income Tax Return for Single and Joint Filers with No Dependents
  • Form 1040EZ - U.S. Individual Income Tax Return
  • Form 1040 - W-2 Wages Reported on Line #7 of Tax Returns
  • Schedule A - Itemized Deductions
  • Schedule B - Interest and Ordinary Dividends
  • Schedule C - Profit or Loss from Business
  • Schedule C-EZ - Net Profit From Business
  • Schedule D - Capital Gains and Losses
  • Schedule E - Supplemental Income and Loss
  • Schedule E - Supplemental  Statements Pages Income and Loss
  • Schedule F - Profit or Loss from Farming
  • Form 2106 - Employee Business Expenses
  • Form 2106-EZ - Employee Business Expenses
Note:

You are allowed a maximum of 2 vehicle entries per Form 2106 for a single loan application

  • Form 4562 - Depreciation & Amortization
  • Form 4797 - Sale of Business Property
  • Form 6252 - Installment Sale Income
  • Form 8829 Business Use of Home
  • Corporation Tax Return (Form 1120)
  • Corporation Tax Return (Form 1125E)
  • Partnership Tax Return (Form 1065)
  • S Corp. Tax Return (Form 1120S)
  • Form 8825 - Rental Real Estate Income and Expenses of a Partnership or an S Corporation
  • Partnership Schedule K-1 (Schedule K-1 1065) - Federal K-1's Only
  • S Corporation Schedule K-1 (Schedule K-1 1120S) - Federal K-1's Only
  • Business Returns Supplemental Statements Pages Income and Loss
  • Trust K-1 (Schedule K-1 1041) - Federal K-1's Only
  • Tax Transcripts
  • Form W2 - Wage and Taxes ( Freddie Form 91, S Corp Only)
  • Paystubs ( BETA TESTING ONLY, NOT LIVE)
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Comments

  • Avatar
    Derrick

    Do you need to upload work sheets from the tax return?

  • Avatar
    Pamela

    it was already uploaded by the LO but she uploaded the Business returns as well and i can't reorder the personal 1040s only