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How To Guide: Tax Transcripts

Updated: Jan 28

Tax Documents are not just for forgetting after April 15th. If you want to buy a house, these are vital pieces of info all lending companies will need for you to be pre-qualified. See the full list of documents you will be need to be qualified

There are 2 types of Tax Documents: Tax Transcripts & W2s A 1040 Tax Transcript includes all information included in your tax return, including other supporting tax documents A W2 is simply the information submitted by your employer.

Which one do I need? Well, that depends on your situation or what type of loan your are applying for. You will need a Tax Transcript if you are:

  • Commissioned Employee

  • Self Employed

  • Applying for a USDA loan (rural loan)

  • Applying for a Mississippi Home Corp Loan

  • Applying for a Down Payment Assistance Program

  • A Professional Driver

  • Employed by a Family Member

Any other situation or loan type you will only need your W2s.

Okay...Got It! Now where do I get my W2s or my Tax Transcripts For your W2 you can contact your Human Resources department at your employer. Some may even have a portal for your payroll that you can download your W2s. For your Tax Transcripts Online: https://www.irs.gov/individuals/get-transcript By Phone: 800-908-9946





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