I-864 Negative Income with Lots of Assets

[Unno 0]

Hey everybody,

My wife came over on a K-1, and we got married and submitted for an adjustment of status. I am currently working part-time, and I don't have that much income, and my savings are just below the threshold needed, so I asked my mother to co-sponsor. We sent in the forms, but left out the whole income section on my mother's form. We just sent in a copy of one of her investment accounts showing that she has way more cash than needed in the I-864p. She didn't really want to send it in her tax return (although she is willing to). On top of that, her tax return shows a big loss (a tax write-off from years ago), and her tax return is like 200 pages (lots of investments), so we didn't want to bother copying it and sending it all in.

Anyway, we got an I-485 today asking for her tax return to be sent in. My question is this. Any decent accountant could look at my mother's tax return and understand that this is an old carry-over loss that doesn't accurately portray her financial situation or what her income will look like in the future. How will USCIS view it though? Will they just look at the negative number and decide that she's useless as a joint-sponsor? Or will they be able to suss-out that my mother is a person of wealth who would have no trouble supporting my wife well-over their poverty threshold if the need arose?

Finding another joint-sponsor would be very difficult, so I really hope someone can give me good news.

Thanks for any guidance.

[Ryan E 10]

I think the tax return is a requirement no matter what. I imagine they see all kinds of different cases. You can send previous years if you want to show good income.

Your mom can go on the irs website and download a transcript of her return. It should be less than 200 pages.

[Unno 0]

I'll have her check the IRS website. The tax return her accountants sent her is HUGE. Regardless, it would be easier to print it out than to photocopy every page.

As for previous years, she'd have to go back really far to get away from the negative income. She had a big loss during the dot-com bubble that she's writing off bit-by-bit every year. The thing is, the loss has already occured (years ago), so the negative number has no real bearing on her current finanacial status. It's all just part of the crazy, complex way that taxes are done in the US. I'm just not sure that the person processing it will understand that.

[Ryan E 10]

They should understand, and even so, that is why they have an allowance for assets.

Btw, my tax return is about 30 pages. The transcript is 2.

[Ryan E 10]

Carrying a loss forward isn't that uncommon. I'm living abroad and get the foreign earned income exclusion. I have a rental property that generates a tax loss with interest and depreciation. I'm looking forward to that using that loss when I move back to the states.

[KayDeeCee 4,896]

Most recent tax transcript(or complete return) is a requirement and stated in the I-864 instructions. If she is using assets to qualify, then the documentation sent in to prove her ownership and asset amounts is what they will use for that. She still had to include the income amounts from her last 3 years of taxes on the form itself and include the most recent transcript with the I-864. Get a free transcript and send in less pages > http://www.irs.gov/Individuals/Get-Transcript