CottageHore Posted Saturday at 12:50 AM Posted Saturday at 12:50 AM (edited) Reddit isn't working rn and I'm having a tiny panic attack cuz I'm an anxious person lol (I'm mostly looking for reassurance, try not saying anything that'll have me self-admit) I am a first time homebuyer. Last year, from Nov 2023- Dec 2023 I started making money on TikTok and made $2,300. I have a 1099 I've shown them proving this income was earned. I found a house and signed the Loan Estimate the other day. Today, my loan officer said this in an email: "Your loan is out of underwriting with a conditional approval. Underwriting is asking for the following of you could please provide when you have time: -2022 and 2023 – 1040 Federal tax returns (all pages) to document Tik Toc Income - Bank statements through November Going back to TurboTax I noticed I'm dumb and didn't put the $2,300 I earned from TikTok in 2023 in and it doesn't show this MISC income on my tax return. This was an oversight and stupid but idc about the IRS right now, I'm having a panic attack, thinking they'll now take away my loan and this will make me lose the house. Am I overreacting? Will I be okay? Is this mostly formality? (I simply responded with my 1040 and 1099 and gave the document asked and didn't say more than that yet, just waiting anxiously). Edited Saturday at 12:50 AM by CottageHore 1
Reginald Posted Saturday at 01:41 AM Posted Saturday at 01:41 AM 47 minutes ago, CottageHore said: TikTok Income Now hold on -- 1
loveisdead9582 Posted Saturday at 01:42 AM Posted Saturday at 01:42 AM (edited) Only $2300?? You should be fine. Contact an accountant or find someone who does taxes. They can file an amended return for you. I'm not an expert by any means but I'm pretty sure that $2300 shouldn't alter your tax returns by much. If it does it you shouldn't owe much. You have TurboTax so you might be able to use the program to file the amended return yourself and just submit that for your loan officer. Edited Saturday at 01:48 AM by loveisdead9582 1
suburbannature Posted Saturday at 01:57 AM Posted Saturday at 01:57 AM This is giving me flashbacks to the thread I made when I was afraid I was going to lose mine 2
CottageHore Posted Saturday at 02:25 AM Author Posted Saturday at 02:25 AM 27 minutes ago, suburbannature said: This is giving me flashbacks to the thread I made when I was afraid I was going to lose mine What happened babe? Am I about to be homeless?
CottageHore Posted Saturday at 02:25 AM Author Posted Saturday at 02:25 AM 4 minutes ago, fememeist said: You shouldn't own a house Shut up
Smarticle Posted Saturday at 02:41 AM Posted Saturday at 02:41 AM 15 minutes ago, CottageHore said: What happened babe? Am I about to be homeless? He asked ATRL for money 2
suburbannature Posted Saturday at 04:29 AM Posted Saturday at 04:29 AM 2 hours ago, CottageHore said: What happened babe? Am I about to be homeless? My dad and I were splitting closing costs and he made a last-minute decision to put it on me after I had signed - took me forever to convince him not to leave me hanging like that. Nothing to do with your situation.
qurl Posted Saturday at 06:35 AM Posted Saturday at 06:35 AM i fear if you're legitimately asking ATRL for answers on this you're cooked sis 1
CottageHore Posted Saturday at 01:49 PM Author Posted Saturday at 01:49 PM 7 hours ago, qurl said: i fear if you're legitimately asking ATRL for answers on this you're cooked sis Asking a forum of people who may own a home and know a thing or two makes me "cooked"? Just bcuz you don't own a home (and never will) and have nothing to contribute to this conversation doesn't mean other ppl here don't. Go away!
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