I-134: how much does co-sponsor need to make?

[Lucie12345 0]

Hello!

I've read that a co-sponsor needs to make 125% of the poverty line, but I'm just wondering if someone knows how much this is?

Also, do they go strictly off the Adjusted Gross Income?

My co-sponsor owns his own business, so he'll be sending in a Tax-Return, not W-2's or pay stubs.

Also, how much do assets/how much you have in the bank/real estate etc count?

Thanks for your help!

[GlenAndLisa 0]

Hello!

I've read that a co-sponsor needs to make 125% of the poverty line, but I'm just wondering if someone knows how much this is?

Also, do they go strictly off the Adjusted Gross Income?

My co-sponsor owns his own business, so he'll be sending in a Tax-Return, not W-2's or pay stubs.

Also, how much do assets/how much you have in the bank/real estate etc count?

Thanks for your help!

The federal poverty guidelines are listed here: http://aspe.hhs.gov/poverty/08poverty.shtml

You need to figure out how many dependents the co-sponsor will be responsible for. From what I understand (although I could be wrong), the co-sponsor has to be responsible for himself, anyone in his household that he claims on his taxes, you, your fiance, and any children you might have that you are responsible for.

For example, if your co-sponsor is a single person and you have no children, he'd only be responsible for 3 people -- himself, you and your fiance. So, by using the poverty guidelines for 3 people, the poverty level is $17,600. Multiply that by 125%, which would be $21,875. And I do believe that needs to be his yearly gross income, not net income.

I'm not sure if you can combine your income and his to meet the 125%. I think you might be able to.

As far as assets are concerned, if you happen to fall below the 125% of the poverty line, you can make up the difference with assets. Using the example above, let's say that his income was only $20,000 -- $1875 below the requirement. You would have to multiply the $1875 by 5 and have that much in assets -- which would be $9375. I think the assets need to be cashable within a year or something.

Anyone can correct me if I'm wrong on any of this!! I'm in the middle of dealing with the same thing, so if I am wrong, it would be good for me to know as well!! LOL

[Lucie12345 0]

Thanks for all the information, that's really helpful.

I hope it goes well for you, good luck!