I864 - Income not reportable on income tax forms

[Qiix 0]

Hello Everyone. Just joined the forum today.

I was just wondering if anyone has had their I864 approved based on assets supplementing income instead of their weekly paycheck.

Our I130 was approved this month so my next big step is the I864. My Taxable Income for 2008 is about 2/3 the poverty level requirement because I had to quit my job to care for a sick family member however I also received an inheritance in 2008 that put me far above the poverty level. It seems they only look at "adjusted Gross Income" and then "Use of assets to supplement income"

Kind of Ironic my income in 2008 was higher than what I made in past 10 years but the tax return shows me under poverty level.

It's also interesting that there is no mention of "debts" on the form. Plenty of folks out there with 20K annual income and 30K of credit card bills. maybe that comes up at the interview.

I know that I can't change my "adjusted gross income" for 2008 and Ill just go with what I have. Just hoping to hear that someone had as good of luck with assets as the paycheck.

Thanks!

[MrsRowe 2]

If you do not meet the poverty guidelines, you can use assets but i believe that your assets have to be three times the amount or something to that affect. I am not sure, maybe one of the more versed VJ member have the answers. No, they do not ask about debt. The only debt they care about is if you owe taxes.

[trailmix 77]

If you do not meet the poverty guidelines, you can use assets but i believe that your assets have to be three times the amount or something to that affect. I am not sure, maybe one of the more versed VJ member have the answers. No, they do not ask about debt. The only debt they care about is if you owe taxes.

They do have to be 3 x the poverty level (125%) if you are only sponsoring your spouse - 5 x's for anyone else.

Assets are used all the time - we used assets alone as we had no U.S. income - one would assume that people who DCF use them a lot too since their foreign income does not count.

[pushbrk 13,625]

Hello Everyone. Just joined the forum today.

I was just wondering if anyone has had their I864 approved based on assets supplementing income instead of their weekly paycheck.

Our I130 was approved this month so my next big step is the I864. My Taxable Income for 2008 is about 2/3 the poverty level requirement because I had to quit my job to care for a sick family member however I also received an inheritance in 2008 that put me far above the poverty level. It seems they only look at "adjusted Gross Income" and then "Use of assets to supplement income"

Kind of Ironic my income in 2008 was higher than what I made in past 10 years but the tax return shows me under poverty level.

It's also interesting that there is no mention of "debts" on the form. Plenty of folks out there with 20K annual income and 30K of credit card bills. maybe that comes up at the interview.

I know that I can't change my "adjusted gross income" for 2008 and Ill just go with what I have. Just hoping to hear that someone had as good of luck with assets as the paycheck.

Thanks!

An inheritance is not "income" for tax purposes. For a spouse, $3 in liquid assets will make up for $1 of income shortfall, so if you now have substantial liquid assets, simply declare them and include the appropriate evidence to back it up.