Self employed i-864

[aquatic_brewer 39]

So we're finalizing the I-864 and have a question.

 

The sponsor is self employed and we're submitting the last three years of salary for consideration.  When we did this as part of the K1 process all that was required were IRS tax transcripts.  No other evidence was needed.  Does the same go for the I-864 is the transcript "all powerful"?  The bit of the instructions I'm referencing here is:

 

"If you provide a photocopy of your Federal individual income tax returns, you must include a copy of each and every

Form W-2 and Form 1099 that relates to your returns. Do not include copies of these forms if you provide an IRS

transcript of your Federal individual income tax returns rather than a photocopy unless you filed a joint income tax return

with your spouse and are qualifying using only your income.

If you selected Part 6., Item Number 2. that you are self-employed, you should have completed one of the following

forms with your Federal income tax return: Schedule C (Profit or Loss from Business), Schedule D (Capital Gains),

Schedule E (Supplemental Income or Loss), or Schedule F (Profit or Loss from Farming). You must include each and

every Form 1040 Schedule, if any, that you filed with your Federal income tax return."

 

I guess the confusion is that the tax transcripts include all the info from the 1040 so are they by themselves enough information?

 

[K1visaHopeful 2,662]

3 hours ago, tsusoup said:

So we're finalizing the I-864 and have a question.

 

The sponsor is self employed and we're submitting the last three years of salary for consideration.  When we did this as part of the K1 process all that was required were IRS tax transcripts.  No other evidence was needed.  Does the same go for the I-864 is the transcript "all powerful"?  The bit of the instructions I'm referencing here is:

 

"If you provide a photocopy of your Federal individual income tax returns, you must include a copy of each and every

Form W-2 and Form 1099 that relates to your returns. Do not include copies of these forms if you provide an IRS

transcript of your Federal individual income tax returns rather than a photocopy unless you filed a joint income tax return

with your spouse and are qualifying using only your income.

If you selected Part 6., Item Number 2. that you are self-employed, you should have completed one of the following

forms with your Federal income tax return: Schedule C (Profit or Loss from Business), Schedule D (Capital Gains),

Schedule E (Supplemental Income or Loss), or Schedule F (Profit or Loss from Farming). You must include each and

every Form 1040 Schedule, if any, that you filed with your Federal income tax return."

 

I guess the confusion is that the tax transcripts include all the info from the 1040 so are they by themselves enough information?

 

The Return Transcript is #1 and all you need as long as those returns arent married filing joint returns (which they most likely wont be unless you have postponed filing AOS a long time, arrived in 2018 and file taxes for 2018 with your spouse -which is stated above too in italics).

 

 

Most recent return Transcript necessary to satisfy Part 6 Question 24. 

Three years is optional.

 

To satisfy Part 6 Question 7, you can use 2018 reported tax income OR current predicted 2019 employment income which will be documented by submitting a current Employment Verification Letter (and 6 months worth of current paystubs too is my recommendation). Your choice between 2018 and 2019 is how to satisfy Question 7.

 

[aquatic_brewer 39]

Thank you for your answer. 

 

So if I’m using 2018 income to satisfy how do they know that? Do I write that anywhere or do they just asses the supporting information and figure it out? 

 

At present I have predicted 2019 income in part 6 q7 and the last three tax returns (‘18, ‘17, 16) in 24 a, b and c. I’m confused as to the best way to submit this/lay it out. Is it better to leave off 2019 all together and just use the last three years? Predicted income for 2019 and earned income in each of the previous 3 years are above the threshold.  

 

 

[K1visaHopeful 2,662]

3 hours ago, tsusoup said:

Thank you for your answer. 

 

So if I’m using 2018 income to satisfy how do they know that? Do I write that anywhere or do they just asses the supporting information and figure it out? 

 

At present I have predicted 2019 income in part 6 q7 and the last three tax returns (‘18, ‘17, 16) in 24 a, b and c. I’m confused as to the best way to submit this/lay it out. Is it better to leave off 2019 all together and just use the last three years? Predicted income for 2019 and earned income in each of the previous 3 years are above the threshold.  

 

 

What document are you using to prove your 2019 predicted income?

Employed individuals would provide an Employment Verification Letter and 6 months worth of paystubs to back that up.

I'm confused on what you think you could use to prove 2019 predicted income that USCIS would accept....

If you are using 2018 tax reported income you'd input in P6, Q7 either:

1. Your Adjustable Gross Income from your 2018 Return Transcript if you filed as single.

2. Your AGI from the sum of all individual earnings statements if you filed as married filing jointly.

[aquatic_brewer 39]

Well for 2019 I was going to use already earned income plus evidence of secured contracts for the remainder of year to estimate 2019 income.  However it's much easier for me to just rely on 2018 income.  So I'm going with that.

 

P6 Q7 will be 2018 income along with the last three years income in p6 q24 a b and c.  I'll submit IRS transcripts to support all of those numbers.

 

Thank you for your help with this, it really is appreciated.