Financial Products

Financial Products

Questions about financial product options? Find discussions around a wide variety of financial service products here. Looking for your first debit card or a seasoned saver looking for tips to build your bank account, this is a great place to share and learn.

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Valued Pioneer
Posts: 3
Registered: ‎06-17-2015

profit and loss statement

My husband and I are trying to refinance our mortgage.  He files as a 1099 consultant and filed a schedule C.  Our lender is asking for a profit and loss statement for 2015.  How can I get one?

 

Amy Tzall

Tax Pro
Posts: 5,777
Registered: ‎02-23-2016

Re: profit and loss statement

Hi Amy,
 
Welcome to the community.
 
Do you have a copy of your 2015 tax return and all of your forms and schedules that go with it?  Did you have a Schedule C on your 2015 tax return?
 
Your schedule C will show your profit or loss from business.  It is essentially the same thing as a profit and loss statement.
 
I recommend however that in addition to your tax return you fill out this actual Profit & Loss Statement since you don't already have a P&L statement.  It's fillable online and printable.  You will need your income and expense records from the business in order to complete the form, but it's pretty straight forward.
 
I hope this helps you out.
 
Louis,
Senior Tax Advisor (Tampa, FL)

Pioneer
Posts: 1
Registered: ‎10-02-2017

Re: profit and loss statement

Where I can find the "Profit & Loss Statement" to fill it out?

 

Tax Pro
Posts: 5,777
Registered: ‎02-23-2016

Re: profit and loss statement

Hi tcmouse,

 

 

Welcome to the H&R Block community.

 

I apologize.  I'm not sure where the link in the previous post went, but I've included a new one below for you.

 

PROFIT & LOSS STATEMENT

 

If you have any other questions I'll be glad to help.

 

Louis,

Senior Tax Advisor (Tampa, FL)