Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 09-18-2015, 12:18 PM
Junior Member
 
Join Date: Sep 2015
Posts: 2
Verify/prove no Schedule C income

In 2014, I operated as a sole proprietor. In December 2014, I ceased operations and took a full-time, salaried, W2 job.
I'm under contract on a home now in 2015, and the USDA (it's a USDA Rural Development Loan) is stating that they must use my 2014 Schedule C income to predict my 2015 total income, putting me way over the limit for USDA's RDL income limit.

How can I prove (apart from a written statement I've already submitted) that I did not operate a Schedule C/sole proprietorship in 2015, and that I made no money from anything but my current W2 job?


Last edited by joshlevinson : 09-18-2015 at 12:19 PM. Reason: clarify 2015 total income


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 09-18-2015, 12:49 PM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
Quote:
Originally Posted by joshlevinson View Post

How can I prove (apart from a written statement I've already submitted) that I did not operate a Schedule C/sole proprietorship in 2015, and that I made no money from anything but my current W2 job?
How can I prove (apart from a written statement I've already submitted) that I did not operate a Schedule C/sole proprietorship in 2015, and that I made no money from anything but my current W2 job?=====>>I guess you may , along with a written stmt again with the all zero income/expense on yoru 2015 Sch C of 1040/ all zero income/expense on Sch SE of 1040. Or you just submit them a copy of your 2015 fed/state returns along with the stmt again as there is NO penalty in submitting a stmt .In my opinion, before doing this, you need to contact the USDA financial dept for asdvise.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Prove my Tax Accountant Wrong - Sale of Business Prop ejohnson75 For 2014 0 04-10-2015 09:53 AM
Schedule C deduction with no Schedule C Income mlwoo Sole-Proprietorship 3 01-30-2014 04:06 PM
Schedule E Royalty Income teague6403 Rental Real-Estate 4 01-23-2014 11:44 AM
How can I quickly verify an S-Corp Election? kloponline S-Corporation 1 08-15-2013 03:12 AM
Losses from Schedule C exceeding Income! merryjay Sole-Proprietorship 2 03-27-2009 09:49 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.