Which tax transcript for USEM and CFO?

[billding 59]

So I went on the IRS website and there are a couple of different transcripts I can get online. https://www.irs.gov/individuals/tax-return-transcript-types-and-ways-to-order-them

 

Which one does USEM want? CFO?

 

Quote

Tax Return Transcript - shows most line items including your adjusted gross income (AGI) from your original tax return (Form 1040, 1040A or 1040EZ) as filed, along with any forms and schedules. It doesn’t show changes made after you filed your original return. This transcript is only available for the current tax year and returns processed during the prior three years. A tax return transcript usually meets the needs of lending institutions offering mortgages and student loans. 

Quote

Tax Account Transcript - shows basic data such as return type, marital status, adjusted gross income, taxable income and all payment types. It also shows changes made after you filed your original return.

Quote

Record of Account Transcript - combines the tax return and tax account transcripts above into one complete transcript.

It seems like the last option is the best since it combines both, is this the one I should get? (I know the answer may seem obvious but the line: "A tax return transcript usually meets the needs of lending institutions offering mortgages and student loans." on the first choice makes me wonder if that's what USEM wants.)

 

Also, since the tax account transcript shows marital status, is that good enough for CFO or do I need to provide my 1040?

 

Thanks

[payxibka 10,045]

10 minutes ago, killbill said:

So I went on the IRS website and there are a couple of different transcripts I can get online. https://www.irs.gov/individuals/tax-return-transcript-types-and-ways-to-order-them

 

Which one does USEM want? CFO?

 

It seems like the last option is the best since it combines both, is this the one I should get? (I know the answer may seem obvious but the line: "A tax return transcript usually meets the needs of lending institutions offering mortgages and student loans." on the first choice makes me wonder if that's what USEM wants.)

 

Also, since the tax account transcript shows marital status, is that good enough for CFO or do I need to provide my 1040?

 

Thanks

TAX RETURN TRANSCRIPT.  CFO won't understand any transcript.

Edited November 10, 2019 by payxibka

[Sarge2155 4,584]

1 minute ago, payxibka said:

TAX RETURN TRANSCRIPT 

Yes this is correct!

[billding 59]

14 minutes ago, payxibka said:

TAX RETURN TRANSCRIPT.  CFO won't understand any transcript.

Thanks that's what I had downloaded.

 

I got confused when I read that CFO didn't accept them, thought I could use the other types that should marital status . I guess I'll have to send my 1040 too

 

[Hank_ 9,174]

4 minutes ago, killbill said:

Thanks that's what I had downloaded.

 

I got confused when I read that CFO didn't accept them, thought I could use the other types that should marital status . I guess I'll have to send my 1040 too

 

You are K-1 .. transcripts are not required.  You can use the 1040 for both.   Just have your fiancee black out the SSN on the copy given to CFO

[billding 59]

8 minutes ago, Hank_ said:

You are K-1 .. transcripts are not required.  You can use the 1040 for both.   Just have your fiancee black out the SSN on the copy given to CFO

But it has to be a 1040 with W2s right?

I don't think I can get those online

[payxibka 10,045]

9 minutes ago, killbill said:

But it has to be a 1040 with W2s right?

I don't think I can get those online

Where did you get them to prepare your return?

[billding 59]

Just now, payxibka said:

Where did you get them to prepare your return?

I have a tax guy

[SalishSea 17,566]

1 minute ago, killbill said:

I have a tax guy

Then.....ask your tax guy for copies!  You should be keeping copies for your personal files in any case.

[payxibka 10,045]

2 minutes ago, killbill said:

I have a tax guy

So your employer sent them directly to your tax guy? 

 

Your tax guy should be providing you a complete copy of YOUR return for YOUR files

[SalishSea 17,566]

Just now, payxibka said:

So your employer sent them directly to your tax guy? 

I didn't think this was legal.

[billding 59]

5 minutes ago, payxibka said:

So your employer sent them directly to your tax guy? 

No, my employer isn't associated with him

Quote

Your tax guy should be providing you a complete copy of YOUR return for YOUR files

Yeah, I'm not the best at keeping files organized. I know I have a copy of them just don't know where

Edited November 10, 2019 by killbill

[Hank_ 9,174]

53 minutes ago, killbill said:

But it has to be a 1040 with W2s right?

I don't think I can get those online

 

You have never been married?    Then for CFO yes ... a 1040 to appease them.

 

You should have a copy in your records.

[billding 59]

12 minutes ago, Hank_ said:

 

You have never been married?    Then for CFO yes ... a 1040 to appease them.

 

You should have a copy in your records.

But for the USEM it's either tax return trancript  or 1040  and W2s?

 

Thanks

[Hank_ 9,174]

9 minutes ago, killbill said:

But for the USEM it's either tax return trancript  or 1040  and W2s?

 

Thanks

 

For the K-1 it actually states the 1040 but I do know of some that provide a transcript without issue