Can I provide tax returns as proof of income? If so, What is the procedure ?

[jeremy987523]

Can I provide tax returns as proof of income? If so, What is the procedure ?

[disneysteve]

Welcome. What is it you’re trying to do? Who is asking for proof of income?

Generally when you’re doing something that requires proof of income, they tell you what they want. It could be a tax return. It could be pay stubs or bank statements. It could be all of those things.

[bjl584]

Welcome.
As Steve said, you would just need to produce the documents to whoever is asking for them

[myrdale]

Following up, were you able to obtain the loan? Or was this for renting?

Years ago when I purchased my house, the bank was less concerned about previous income, and more concerned about my current income. I provided them a pay stub, then two weeks later they called me up and asked me to bring a second one in.

[disneysteve]

Years ago when I purchased my house, the bank was less concerned about previous income, and more concerned about my current income. I provided them a pay stub, then two weeks later they called me up and asked me to bring a second one in.

Yes, they don't care about past income. They want to document your ability to pay the loan going forward. This is the reason why retirees often have some difficulty getting loans. Lenders don't care that you've got $3 million in investments. They want to see income.