Tip Income

The following table provides verification requirements for tip income.

	Verification of Tip Income
	Obtain the following documents: a completed Request for Verification of Employment Form 1005 or 1005S or the borrower’s recent paystub, and IRS W-2 forms covering the most recent one-year period or the most recent one year tax returns with IRS Form 4137, Social Security and Medicare Tax on Unreported Tip Income, to verify tips not reported by the employer.
	Tip income may be used to qualify the borrower if the underwriter verifies that the borrower has received it for the last one year.