Financial Info

[SteveFrench 0]

Quick question or two....

As I understand, you need to be making above the official poverty line in order to be declared financially sound enough to qualify for the K-1. Those who are under or are close to that figure need to have a relative or friend sign a form saying they will help. My question, what figure is used to determine your status... wages before or after taxes ? I am above by a little before taxes and under after taxes.

Also, what about credit history ? I ran a business that simply killed my credit when the economy crashed... will that hurt me ?

Thank you.

Edited July 2, 2011 by SteveFrench

[pushbrk 12,103]

Quick question or two....

As I understand, you need to be making above the official poverty line in order to be declared financially sound enough to qualify for the K-1. Those who are under or are close to that figure need to have a relative or friend sign a form saying they will help. My question, what figure is used to determine your status... wages before or after taxes ? I am above by a little before taxes and under after taxes.

Also, what about credit history ? I ran a business that simply killed my credit when the economy crashed... will that hurt me ?

Thank you.

The I-864p shows the required current income needed to qualify based on your household size. Self employed qualify based on line 22 of the 2010 tax return. Credit is only an issue if there is an IRS lien.