Will Fannie Mae Allow Gambling Winnings as Income?

Question: My client is a semi-professional gambler with a 10-year history of income.  His 1040 shows “gambling winnings” on line 21 “other income”.  Do I average the two years to get a monthly income, and more importantly will underwriting or Fannie Mae accept this as income? Answer: This is a great question! Technically, the answer […]

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