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Hello is this info still correct that these deductions can be added back into the AGI??

Here are a few of the most common deductions you may add back into your net income total:

* business use of home (such as a home office)
* business vehicle mileage
* depreciation
* depletion (this is not a common write-off and most will not have this)
* casualty losses dues to theft, fire or natural disasters
* losses carried over from prior years (since the loss was in a prior year, it will not be counted against your qualifying income)
* one-time extraordinary expenses

it came from a florida home buyers website

shane · Posted: Fri Oct 09, 2009 3:30 pm Post subject:

Here is what underwriters use to determine qualifying income of self-employed applicants.

https://www.efanniemae.com/sf/formsdocs/forms/1084.jsp

Here is what FHA says about analyizing self-employed tax returns (1040's):

The following provides additional information on analyzing tax returns:

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dvandentop · Joined: 09 Oct 2009 Posts: 3 1.35 Dollars($)

so those items i listed in my 1st post are not valid to be added back into the AGI?

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Looks like you can still use the business income or loss

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deductions that can be added back to AGI???