negative net income showing in form 1040

[MayRon 1]

The 1040 of my husband shows in line 22 negative amount because of net operating loss...Do we need to get co-sponsor?thanks for response!

[MayRon 1]

The 1040 shows in line 22 negative amount because of net operating loss...Do we need to get co-sponsor?thanks for response!

[Anh map 2,098]

Yes, he will need to find a joint sponsor.

*Moved from K1 forum to IR1/CR1 forum*

[Bumbero 130]

The 1040 shows in line 22 negative amount because of net operating loss...Do we need to get co-sponsor?thanks for response!

From everything I've read, it is the current earnings they look at. Correct me if I'm wrong please, it's a learning process for me too.

[MayRon 1]

From everything I've read, it is the current earnings they look at. Correct me if I'm wrong please, it's a learning process for me too.

he earned 33,400 for 2011 but there's net oprating loss carryforwrd for 2010 dats why line 22 in form 1040 shows negative

[MayRon 1]

he earned 33,400 for 2011 which is above poverty level but there's net oprating loss carryforwrd for 2010 dats why line 22 in form 1040 shows negative

[sjr09 155]

From everything I've read, it is the current earnings they look at. Correct me if I'm wrong please, it's a learning process for me too.

For self employed it is line 22

[orejiba 1]

he earned 33,400 for 2011 which is above poverty level but there's net oprating loss carryforwrd for 2010 dats why line 22 in form 1040 shows negative

[/quote

33,400 for 2011 is the income tax return already? don't need for co-sponsor if you & your husband, unless you have children with you. You paSSED THE poverty level...Include the assets.

[MayRon 1]

For self employed it is line 22

what if not self employed?

[Penguin_ie 5,986]

If he is not self employed, how can he have negative income?

[MayRon 1]

If he is not self employed, how can he have negative income?

it showed 2008 net operating loss..

[Penguin_ie 5,986]

They won't care about 2008. What they care about is current and possibly the last three years (so 2009-2011). If he has been employed by a company that he does not own (ie salary/ waged employee, not self-employed) for the last couple of years, and is above the poverty line for those, you have nothing to worry about.

[MayRon 1]

They won't care about 2008. What they care about is current and possibly the last three years (so 2009-2011). If he has been employed by a company that he does not own (ie salary/ waged employee, not self-employed) for the last couple of years, and is above the poverty line for those, you have nothing to worry about.

I looked at 2009-2011 ITR and the 2008 net operating loss is carry forward and that's why with the form 8879(e-file) it shows that his adjusted gross income is -42,569.

Im confused now weather we need to get co sponsor

[Anh map 2,098]

I looked at 2009-2011 ITR and the 2008 net operating loss is carry forward and that's why with the form 8879(e-file) it shows that his adjusted gross income is -42,569.

Im confused now weather we need to get co sponsor

Have the US citizen petitioner read through the form instructions to learn what is required. No need for you to be guessing and giving partial information here on VJ.

[pushbrk 12,138]

Have the US citizen petitioner read through the form instructions to learn what is required. No need for you to be guessing and giving partial information here on VJ.

Line 22 on the 2011 tax return is the current income for a self-employed person. "Operating loss" means self employed. Unless the business is closed and the sponsor now has a "job" with employment income, or some very significant liquid assets, a joint sponsor will be needed.