Rental and retirement income for affidavit of support

[pjandrachel 0]

Was wondering whether if you could help! We are currently awaiting NOA2 for our Spouse I-130 and we are preparing our evidence for affidavit of support! We will have a co-sponsor but the majority of her income is from rental of a number of properties and retirement! I just have a couple of questions -

1 - Is retirement income considered as income?

2 - How do we prove income from the property rentals?

3 - Will the fact that the income from the rentals is on the tax transcript be sufficient or will we need to provide further evidence of the income she recieves from the property?

4 - Other then her proof of citizenship, the complete I-864 and tax transcripts what other supporting documents would be required?

Thank you

[reese1 68]

1-yes

2-This is like being self-employed the only way to prove it is with tax transcripts

3-Tax transcript is fine

4- None since you will be submitting the tax transcripts, don't need to submit the 1099 and schedules.

Best of luck to you!

http://www.uscis.gov/files/form/i-864instr.pdf

[Ryan H 3,812]

Moved from Progress Reports to Process & Procedures.

[pushbrk 12,898]

1-yes

2-This is like being self-employed the only way to prove it is with tax transcripts

3-Tax transcript is fine

4- None since you will be submitting the tax transcripts, don't need to submit the 1099 and schedules.

Best of luck to you!

http://www.uscis.gov.../i-864instr.pdf

This is correct but here's some more about the how. For the self-employed (People with rental income are self-employed, whether retired or not.) current income is the number on line 22 of the 1040 or the line titled "total income" on the tax return transcript. The pitfall with many rental income folks is that they have so many depreciation related an other deductions that their actual income on these lines can be deceivingly low. Before deciding on this person as the sponsor, find out how much income is showing on line 22 of the 2011 1040. If it's not enough, they would need to use assets, which could be cumbersome and expensive. Real Estate assets need current appraisals (expensive) and current mortgage statements to document equity.