Private business owner and income

[kirk and Jenny 0]

I have seen this before but cannot find the topic. My gross income was significantly different because of some large deductions. Has anyone had experience with this.

[Looking4Wife 0]

I have seen this before but cannot find the topic. My gross income was significantly different because of some large deductions. Has anyone had experience with this.

I am in a similar situation. It should not be a problem, so long as you use your "Total Income" from line # 22 from your IRS form 1040 is sufficient. If it is a problem, then we're both in trouble

I filed for a CR-1 (marriage) visa for my wife, and I see that you have filed for a K-1 (finacee). I don't know if the K-1 requires the same form for income as the CR-1, which is the I-864 Affidavit of Support? The old instructions for I-864 were more clear about the income requirement, because the instructions actually included the wording: "Enter total undadjusted income from your Federal income tax return for the most recent year". Unfortunately, the new instructions for the new form aren't as clear, but I strongly suspect that the same still applies. Reviewing the old instructions made me feel much more comfortable.

[kirk and Jenny 0]

Thanks, that makes sense. If I am getting all sorts of deductions from money spent in previous years, it has no relevance on whether or not I can support Jenny.

[diadromous mermaid 36]

I have seen this before but cannot find the topic. My gross income was significantly different because of some large deductions. Has anyone had experience with this.

Your gross income or the business income is significantly higher prior to deductions? Do you declare your personal income by way of a Schedule C as part of the 1040 form?

[bradyvicky 0]

I was SEVERELY worried about this when I filed my K1 in the past for my ex.... My Gross was acceptable for two of the three years, but Net after deductions from starting a new business was horrible. In addition, the third year back I was under the required income, a student and had been fired from a job and pulled some unemployment. I got through no problem.

I dont see it being a problem, nor have I ever heard it is a problem as long as it meets qualifications exactly as stated. I think a pitfall we all fall into often is reading WAY into things becausew we are trying to be extra cautious or anticipate any problem before it happens.

IMHO....