Gold Star does not require 1040 tax transcripts when AUS findings allow W-2s for income qualification purposes (tax returns not required). Gold Star will accept W-2 transcripts when W-2(s) only are required for income qualification.
Examples of income types that are verified by W-2 transcripts:
- Salaried/wage earners with base and overtime income;
- Salaried/wage earners with commission and bonus income accounting for <25% of the base income.
To avoid delays in completing the W-2 Transcript Order, please ensure the following steps are completed:
- On Line 6 of the 4506-C form, the entry line needs to read 1099/W2;
- Follow AUS requirements when determining the number of years to order;
- Choose “W-2” as the product type dropdown in the Broker Portal when ordering transcripts;
- Select Checkbox 7 on the Form 4506-C (for W-2 transcripts).