Fillable Schedule Analysis Method (SAM)

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Schedule Analysis Method (SAM)

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Please use the following calculator and quick reference guide to assist you in calculating qualifying income from tax returns. It provides
suggested guidance only and does not replace Fannie Mae, Freddie Mac, Lender or Investor instructions or applicable guidelines.
I Schedule B - Interest and Dividends From Self Employment 2020 2019
NOTES
1 Recurring Interest Income (Line 1) or Line 2b
+
2 Recurring Dividend Income (Line 5) or Line 3b
+
Schedule B Subtotal
II Schedule C - Sole Proprietorship 2020 2019
NOTES
3 Net Profit or Loss (Line 31)
+/–
4 Nonrecurring Other (Income) Loss or Expenses (Line 6)
+/–
5 Depletion (Line 12)
+
6 Depreciation (Line 13)
+
7 Meal and Entertainment Exclusion (Line 24b)
–
8 Business Use of Home (Line 30, Form 8829)
+
9 Business Miles, Page 2, Part IV (Line 44a or 4562, Line 30)
10a x Depreciation Rate (2020-27¢; 2019-26¢)
10b = Total Mileage Depreciation
+
11 Amortization/Casualty Loss only if noted (Page 2, Part V)
+
Schedule C Subtotal
III Schedule D - Capital Gains or Losses 2020 2019
NOTES
12 Recurring Capital Gains or Loss, Page 2, (Line 16, Details on
Form 8949)*
+/–
*Verify no recurring losses that
need to be considered.
Schedule D Subtotal
IV Schedule E - Supplemental Income and Loss* 2020 2019
NOTES
13 Royalty Income (Line 4)
+
*Rental income is calculated
separately and not included
with the SAM Form.
14 Total Expenses (Line 20)
–
15 Depletion (Line 18)
+
Subtotal
V Schedule F - Farm Income 2020 2019
NOTES
16 Net Profit or Loss (Line 34)
+/–
17 Non–Tax Portion Ongoing Co-op & CCC Pmts (Lines 3a–3b,
4a–4b, 6a–6b)
+/–
18 Nonrecurring Other (Income) or Loss (Lines 5c and 8)
+/–
19 Depreciation (Line 14)
+
20 Amortization/Casualty Loss only if noted (Line 32)
+
21 Business Use of Home only if noted (Line 32)
+
Farm Income Subtotal
Page 1 of 4
Calculator and Quick Reference Guide:
Schedule Analysis Method (SAM)
Borrower(s) Name(s)
Property Address
Loan Number
For full functionality, download PDF first before entering data. Please download before
each calculation as calculators are updated periodically.
This calculator can be found at https://new.mi.genworth.com/self-employed-borrower-calculators.
$ 0.00
$ 0.27
0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.26
0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
Partnership Cash Flow
Schedule K-1 (and Form 1065) Cash Flow
Evaluate the K-1 income and the business income as required by your investor.
VI Partnership Schedule K-1 (Form 1065) 2020 2019
NOTES
22 Ordinary Income or Loss (Line 1)*
+/–
*Review line 19 for a
distribution.
23 Net Rental Income (Loss) (Lines 2 and 3)*
+/–
24 Guaranteed Payments to Partner (Line 4c)
+
Subtotal
VII Partnership (Form 1065) 2020 2019
NOTES
25 Passthrough (Income) Loss from Other Partnerships (Line 4)
+/–
*Follow specific investor
guidelines; Adjustments
may not be required if there
is evidence these roll over
regularly, these are verified
to be a line of credit or if the
business has sufficient assets
to cover the liability.
26 Nonrecurring Other (Income) Loss (Lines 5, 6 and 7)
+/–
27 Depreciation (Line 16a)
+
28 Depreciation Form 8825 (Line 14)
+
29 Depletion (Line 17)
+
30 Amortization/Casualty Loss (Line 20 - only if noted on attached
statement)
+
31 Mortgages or Notes Payable in Less Than 1 Year (Schedule L,
Line 16, Column d)*
–
32 Travel and Entertainment Exclusion (Schedule M–1, Line 4b)
–
Subtotal
=
33 Multiplied by Ownership Percentage
x % %
Partner’s Total Share of Income
S Corporation Cash Flow
Schedule K-1, W-2 Wages and Form 1120S Cash Flow
Evaluate K-1 income, W-2 wage and business income as required by your investor.
VIII S Corporation Schedule K-1 2020 2019 NOTES
34 Ordinary Income or Loss (Line 1)*
+/–
*Review line 16d for a
distribution.
35 Net Rental Income (Loss) (Lines 2 and 3)*
+/–
Subtotal
IX Form W-2 2020 2019 NOTES
36 W-2 Wages
+/–
Subtotal
X S Corporation (Form 1120S) 2020 2019 NOTES
37 Nonrecurring Other (Income) Loss (Lines 4 and 5)
+/–
*Follow specific investor
guidelines; Adjustments
may not be required if there
is evidence these roll over
regularly, these are verified
to be a line of credit or if the
business has sufficient assets
to cover the liability.
38 Deprecation (Line 14)
+
39 Depreciation Form 8825 (Line 14)
+
40 Depletion (Line 15)
+
41 Amortization/Casualty Loss (Line 19 - only if noted on attached
statement)
+
42 Mortgages or Notes Payable in Less Than 1 Year (Schedule L,
Line 17, Column d)*
–
43 Travel and Entertainment Exclusion (Schedule M–1, Line 3b)
–
Subtotal
=
44 Multiplied by Ownership Percentage
x % %
Shareholder’s Total Share of Income
Page 2 of 4
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Corporation (Form 1120) Cash Flow
When considering using income from a Corporation, it is important to determine the viability of the business as well as the
borrower’s ability to access funds if they will be used to qualify. In addition, check your investor guidelines.
XI Self Employed W-2 Wages from Form 1120 2020 2019 NOTES
45 W-2 Wages
+/–
Subtotal
XII Corporation (Form 1120)
2020 2019 NOTES
46 Taxable Income (Line 30)
+
*Follow specific investor
guidelines; Adjustments
may not be required if there
is evidence these roll over
regularly, these are verified
to be a line of credit or if the
business has sufficient assets
to cover the liability.
**Check guidelines if
ownership < 100% and
subtotal is positive.
47 Total Tax (Line 31)
–
48 Nonrecurring (Gains) Losses (Lines 8 and 9)
+/–
49 Nonrecurring Other (Income) Loss (Line 10)
+/–
50 Depreciation (Line 20)
+
51 Depletion (Line 21)
+
52 Domestic Production Activities Deduction (Line 25)
+
53 Amortization/Casualty Loss (only if noted) (Line 26 from
attached schedule)
+
54 Net Operating Loss and Special Deductions (Lines 29a and b)
+
55 Mortgages or Notes Payable in Less Than 1 Year (Schedule L,
Line 17, Column d)*
–
56 Travel and Entertainment Exclusion (Schedule M–1, Line 5c)
–
Subtotal**
=
57 Percentage of Ownership (Form 1125-E), if required
x % %
Subtotal Multiplied by Ownership Percentage
=
58 Dividends Paid to Borrower (Form 1040, Schedule B, Line 5)
–
Corporation - Total Share of Income
Cash Flow Analysis Summary
Page 3 of 4
A. To exclude Subtotals from Qualifying Income, check the empty box next to the dollar amount in the Subtotal column below. The income/loss amount will disappear from the
“Qualifying Income Column” and will no longer be included in Qualifying Income.
B. To modify number of months of income in the #mo. column below, change the 12 in the box to to the correct number of months
C. Remember to click on the calculate button to the right of the Qualifying Income column after any change throughout the calculator. This will refresh the calculations.
p.1 Personal Cash Flow Subtotals: 2020 2019
No. of Months
Qualifying
Income
I Schedule B
II Schedule C
III Schedule D
IV Schedule E
V Schedule F
p.2 Partnership & S Corporation Cash Flow Subtotals: 2020 2019
No. of Months
Qualifying
Income
VI K-1 (Form 1065)
VII Form 1065
Partnership Subtotal
VIII K-1 (Form 1120S)
IX W-2 Wages
X Form 1120S
S Corporation Subtotal
p.3 Corporation Cash Flow Subtotals: 2020 2019
No. of Months
Qualifying
Income
XI W-2 Wages
XII Form 1120 - Corporate Total Income
Corporation Subtotal
Average Monthly Cash Flow
*Check investor guidelines on use of business income to qualify.
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Page 4 of 4
The Calculator and Reference Guide can be found online at new.mi.genworth.com/self-employed-borrower-calculators
Year to Date Profit and Loss Statement
When using or evaluating profit and loss statements, always consult all applicable guidelines, including lender, investor, GSE and, where applicable,
federally mandated ability to repay requirements. Generally, the lender may use a profit and loss statement—audited or unaudited—for a
self–employed borrower’s business only to support its determination of the stability or continuance of the borrower’s income. A typical profit
and loss statement has a format similar to IRS Form 1040, Schedule C. Allowable addbacks include depreciation, depletion and other non–cash
expenses as identified on previous pages.
Year–to–Date Profit and Loss Statement
Salary/Draw to Individual _______________________
Net Profit _______________________ _______________________ % Ownership = _______________________
Total Allowable Addbacks _______________________ _______________________ % Ownership = _______________________
Year–to–Date Total _______________________
X
X
9113811.0221 ©2021 Genworth Financial, Inc. All rights reserved.
Genworth Mortgage Insurance underwriters include: Genworth Mortgage Insurance
Corporation and Genworth Mortgage Insurance Corporation of North Carolina
Refer to Genworth COVID P&L Review & Business Income Stability worksheet while COVID-19 underwriting policies are effective.
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Schedule Analysis Method (SAM)

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Completed 7 April 2021

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