Tag: W2 wages

Calculating Qualifying Income from a Self-Employed Borrower Paystub

Question: I have a self-employed client who receives W2 income from his company.  There is a difference between box 1 “Wages” and box 5 “Medicare Wages”. He states his Medicare Wages is the employee deferral for a 401k contribution. Which income should I use? Answer: Generally, a W2 is only used to support someone’s annual […]

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