Affordable Housing Guide to help applicants clarify tax forms.
2018 W-2(s). This is a form for income, usually from employment, and would be issued by your employer. They were used to complete line 1 of your 2018 taxes.
2018 1099-INT(s). This is a form for interest income, usually from a financial institution, and would be issued by the corresponding financial institution. They were used to complete line 2a and 2b of your 2018 taxes.
2018 1099-DIV(s). This is a form for dividend income, usually from a financial institution, and would be issued by the corresponding financial institution. They were used to complete line 3a and 3b of your 2018 taxes.
2018 1099-R(s). This is a form for IRA distributions, pension income, annuity income, and other forms of disbursement typically from retirement or investment assets. These are usually from and are issued by financial institutions or sources or retirement income. They were used to complete line 4a and 4b of your 2018 taxes.
2018 SSA-1099(s). This is a form from the Social Security Administration for Social Security benefits received in 2018. They were used to complete line 5a and 5b of your 2018 taxes.
2018 1099-MISC(s). This is a form for miscellaneous income, which can be from contracting third parties, independent contractor positions, self-employment clients, royalty income sources, and many other potential sources of income. They were issued by that source of income, and are used to complete Schedule C or C-EZ (if applicable), Schedule SE (if applicable), line 12 of Schedule 1, line 21 of Schedule 1, or any other place where you have indicated 1099-MISC income on your 2018 taxes.
2018 1099-G(s). This is a form for income from government sources, and is typically asked for in situations where households received unemployment income. This would be issued by the Department of Unemployment Assistance in Massachusetts (or its equivalent in other states), and is used to complete line 19 of your Schedule 1.
2018 W-2G(s). This is a form typically received for gambling income, and is typically used to complete line 21 of your Schedule 1.
2018 K-1(s). This is a form received for S Corporation income, partnership income, trust income, or other sources of income, deductions, or credits from a separate organization of which you are a member. These are issued by the corporation, partnership, trust, etc., and are used to complete your Schedule E, the corporation / partnership’s own tax returns (I.e Form 1120S, etc), Form 4797, Schedule F, and lines 14, 17, 18, or 21 of your Schedule 1.
For questions on what a 1040 or W-2 or other tax document looks like, please refer applicants to go to the IRS website: https://www.irs.gov/forms-instructions
Incomplete Applications for 40B and BPDA and Affordable Housing
I received an incomplete notice for an affordable housing application, but I already submitted documentation, can someone call me?
Of course, we will do our best to call you back within the next 24 hours. Please let us know what the best time and phone number is to reach you.
For us to be able to assist you better, please reply to this email with the specific questions you have about the incomplete notice you received.
Why are there things on this checklist for 40B housing that weren’t here before?
Our staff strives to make the missing documentation checklist as thorough as possible by requesting each piece of documentation we can tell is or may be relevant to an application. But each review that we do can only be done on documentation that was submitted.
Unfortunately, sometimes documentation will be submitted as part of an update that raises additional issues which we were previously unaware of. This means that there will be documentation asked for in a subsequent incomplete notice that was not requested in the initial incomplete notice. For example: sometimes the first checklist of missing documentation will note that there are missing bank statements. When the applicant then submits those bank statements, there may be deposits that were not previously disclosed, and so we then need to ask for documentation of those deposits. There would have been no way for us to ask for documentation on deposits that were in statements that had not yet been provided, so we could not have asked for that information in the first checklist.
We strive to be as thorough as possible in our reviews to prevent this, but if any issue is raised upon the review of an application and its supporting documentation, we need to issue another incomplete notice to document and clarify, prior to the application to be considered complete.