1088 Tax Form – Fill Out and Use This PDF

Updated: Nov 10, 2026

The 1088 tax form, officially known as the Fannie Mae Comparative Income Analysis, helps mortgage lenders evaluate a self-employed borrower's business income by comparing gross receipts, expenses, and taxable income across multiple years. It supports all major business structures including sole proprietorships, partnerships, S corporations, and corporations. Use the button below to fill out your 1088 form online for free.

Get Form Now Download PDF

1088 Tax Form PDF Details

The 1088 form, also called the Fannie Mae Comparative Income Analysis, is a standardized mortgage worksheet that lenders use to evaluate whether a self-employed borrower's business generates stable enough income to support a home loan. It compares financial data across two consecutive years, tracking gross income trends, operating expense changes, and net taxable income to build a picture of business viability.

Depending on business structure, the form draws data from different IRS filings:

Sole proprietorship - Schedule C of Form 1040

Partnership - Form 1065, Schedule K-1

S corporation - Form 1120S, Schedule K-1

Corporation - Form 1120

Lenders calculate percentage changes in gross income, total expenses, and taxable income for each reported year. A steady or growing income trend across both years typically strengthens a borrower's loan application. Sharp declines may require additional documentation. Related Fannie Mae forms include Fannie Mae Form 1084 for cash flow analysis and the Fannie Mae Income Worksheet. Self-employed borrowers may also need the self-employed income analysis form.

Question	Answer
Form Name	1088 Tax Form
Form Length	3 pages
Fillable?	Yes
Fillable fields	1
Avg. time to fill out	57 sec
Other names	fannie mae 1088, how to 1088, 1088 form irs, irs 1088 form

How to Fill Out Form 1088

Form 1088 at a glance

What it is: Comparative Income Analysis: the lender uses this form to compare the performance of a self-employed borrower's business over a period of years to determine its viability.

The lender should calculate the percentage change for the borrower's gross income, expenses, and taxable income from one period to the next, covering at least a two-year period.

Determine year-to-year trends in gross income, expenses, and taxable income.

A filled-in Form 1088 example: a lender compares three years

Form 1088 example filled out, example: a lender compares three years — Dana Sample, a lender, fills out Form 1088 for a borrower's business. Gross income is 400,000, 440,000 and 396,000 for three years, and expenses are 75% of it. The years run 2022, 2023 and 2024 from left to right, and each change is the dollar difference divided by the previous year. The picture shows page 1, and its names and figures are sample values.

How to fill out Form 1088, box by box

Borrower Name and Company Name

Enter the Borrower Name and the Company Name.

Gross Income

Enter the gross income figure from each year's statement where indicated. Determine the percentage change in gross income from one year to the next by calculating the dollar difference between the two years, and then dividing the dollar difference by the previous year's gross income. Enter the percentage of increase or decrease where indicated. Be sure to indicate a + (plus) or - (minus) sign.

Gross Income equals Gross receipts (or sales) less Returns and allowances.

Expenses

Enter the expense income figure from each year's statement where indicated. Determine what percentage expenses are of gross income by dividing the expense amount by the dollar amount of gross income for each year. Enter the results where indicated. Determine the percentage change in expenses from one year to the next by calculating the dollar difference between the two years, and then dividing the dollar difference by the previous year's expenses. Enter the percentage of increase and decrease where indicated.

Expenses equal Cost of goods sold plus Total deductions.

The expenses and taxable income each period as a percentage of gross income for that period.

Taxable Income

Taxable Income is taken from one of the following IRS Forms: IRS Form 1040, Schedule C = for the Net Profit or Loss for a Sole Proprietorship; IRS Form 1065 = for Ordinary Income or Loss for a Partnership; IRS Form 1120(S) = for Ordinary Income or Loss for an S Corporation (a small, start-up business); IRS Form 1120 = for Taxable Income for a Corporation.

Step 1. Enter the taxable income figure from each year's statement where indicated. Step 2. Determine what percentage taxable income is of gross income by dividing the dollar amount of taxable income by the dollar amount of gross income. Enter the results where indicated. Step 3. Determine the percentage change in taxable income from one year to the next by calculating the dollar difference between the two years, and then dividing the dollar difference by the previous year's taxable income.

More rules for Form 1088

This form must be printed on letter size paper, using portrait format.

When printing this form, you may need to use the "shrink to fit" option in the Adobe Acrobat print dialogue box.

Sources

[1] Fannie Mae Form 1088, Comparative Income Analysis (the served file; no issuer file found) (the Official source link on this page).