Prior to delivery, the lender must obtain the following documentation depending on the borrower’s employment start date: The borrower’s start date must be no earlier than 30 days prior to the note date or no later than 90 days after the note date. This confirmation must be noted in the mortgage loan file.Īlso note that for a union member who works in an occupation that results in a series of short-term job assignments (such as a skilled construction worker, longshoreman, or stagehand), the union may provide the executed employment offer or contract for future employment. Note: If conditions of employment exist, the lender must confirm prior to closing that all conditions of employment are satisfied either by verbal verification or written documentation. In addition, if full or partial payments are made on an inconsistent or sporadic basis, the income is not acceptable for the purpose of qualifying the borrower. Income received for less than six months is considered unstable and may not be used to qualify the borrower for the mortgage. To be considered stable income, full, regular, and timely payments must have been received for six months or longer. Review the payment history to determine its suitability as stable qualifying income. For forms and publications, visit the Forms and Publications search tool.Note: If a borrower who is separated does not have a separation agreement that specifies alimony or child support payments, the lender should not consider any proposed or voluntary payments as income.Īny other type of written legal agreement or court decree describing the payment terms.ĭocumentation that verifies any applicable state law that mandates alimony, child support, or separate maintenance payments, which must specify the conditions under which the payments must be made.Ĭheck for limitations on the continuance of the payments, such as the age of the children for whom the support is being paid or the duration over which alimony is required to be paid.ĭocument no less than six months of the borrower’s most recent regular receipt of the full payment. We cannot guarantee the accuracy of this translation and shall not be liable for any inaccurate information or changes in the page layout resulting from the translation application tool.įorms, publications, and all applications, such as your MyFTB account, cannot be translated using this Google™ translation application tool. For a complete listing of the FTB’s official Spanish pages, visit La esta pagina en Espanol (Spanish home page). These pages do not include the Google™ translation application. We translate some pages on the FTB website into Spanish. If you have any questions related to the information contained in the translation, refer to the English version. Any differences created in the translation are not binding on the FTB and have no legal effect for compliance or enforcement purposes. The web pages currently in English on the FTB website are the official and accurate source for tax information and services we provide. Consult with a translator for official business. This Google™ translation feature, provided on the Franchise Tax Board (FTB) website, is for general information only. Visit 2022 Instructions for Schedule CA (540) or 2022 Instructions for Schedule CA (540NR) for more information. Alimony payments are deducted by the payer and included in the income of the payee.Alimony payments are not deducted by the payer spouse and are not included in the income by the recipient spouse. ![]() California conforms to the federal law.ĭivorce or Separation Agreements executed after December 31, 2018, (or executed on or before Decemand modified after that date):.A schedule CA adjustment is needed.ĭivorce or Separation Agreements executed before January 1, 2019: California does not conform to the federal change.Gambling losses are deductible to the extent of gambling winnings.Īll deductions for expenses incurred in carrying out wagering transactions, and not just gambling losses, are limited to the extent of gambling winnings.ĭivorce or Separation Agreements executed after December 31, 2018: Job Expenses and Certain Miscellaneous Itemized DeductionsĮxpenses that exceed 2% of your federal AGI Expenses that exceed 7.5% of your federal AGI
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