Can the IRA be used as income to support the I-864?

[CommittedBirds 0]

Hello, this is urgent because my interview is on Aug 14, 2013, and we're confused with the financial part of the process, the i-864,etc.

My wife was allowed to set up her IRA (Individual retirement account) so she can be receiving $1,008.00 each month, she has been receiving that amount since June 2011. She gets income from her job too.

My question is: Can we combine the money from the IRA to my wife's income from her job for purpose to have a total to help be above 125% of the poverty line?

thanks

[Megbo Fosho 1]

I am having the same confusion only as I am still living at home with parents and work cash on hand jobs mostly and we have over 10,000 dollars saved for when my fiancee moves here and we can actually start a real life together and move out so I know I am going to have troubles filling the papers in to show I can support him. do you know how I should go about this??? and as far as the IRA stuff.....I feel like with that money coming in on top of her job income you should be okay but just show you combined them. pay stubs and tax return forms are what they ask for too... GOOD LUCK W UR INTERVIEW IN A COUPLE WEEKS!

[Ozz777 23]

If any US citizen petitioner doesn't meet the poverty guidelines or have the required amount in savings as stated in the instructions, they must get a cosponsor to bring their loved one to the US.

[slvrfx576 15]

"Cash" jobs should have been reported on Schedule C of your income tax returns. That way this income will be reflected on your tax transcripts. This is not just a suggestion, it is the law. If you did not report it when you filed, then you have filed a return which the IRS may consider to be fraudulent. You should file amended returns (form 1040X) for those years in which you had unreported "cash" income. If you did not file at all, then file now. BTW, if you had Schedule C "cash" income over $400 you are required to file because, although you may not have an income tax liability, you will owe Social Security and Medicare taxes. The filing requirement threshold is different for "cash" income than it is for reported W-2 income. Consult a tax professional.

Many people think that there is no need to report "cash" (Untraceable ?) income, but it can later become a problem.