Hey everyone, looking for some real world experience here.
    I am self employed as an independent contractor and my IDR recertification is coming up. I want to submit my most recent accepted tax return but the problem is that return includes W2 income and pension income that I no longer receive. Both of those income sources have since been completely discontinued and I now run my own business full time.

    To make it more complicated, that same tax return also includes a portion of AGI from my self employment income, which is still active but at a lower amount than what that return reflects.

    So basically that return has three things going on. W2 income that no longer exists, pension income that no longer exists, and self employment income that still exists but is now slightly lower than what that return shows.

    All of this together significantly inflates my AGI and does not reflect my current actual income at all.
    My questions are:
    1. Can I submit that tax return AND include a signed self certification letter explaining that the W2 and pension income are no longer active and that my current self employment income is lower? Will servicers actually accept that combination?
    2. Has anyone successfully had discontinued income sources removed from their IDR calculation by providing a letter of explanation alongside their tax return?
    3. Or is it better to skip the tax return entirely and just submit current bank statements plus a self certification letter showing my actual current lower income?

    My servicer says they accept a signed letter of self employment as documentation. Just trying to figure out the most effective and legitimate way to show my true current income without the inflated numbers from income sources that no longer exist.

    Appreciate any real experience or advice from people who have navigated this!

    IDR recertification self employed
    byu/SuspectVisible7338 inStudentLoans



    Posted by SuspectVisible7338

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