AOS Rental income question

[ibhitchin 1]

Hi VJ,

I am in the process of filling out my AOS for our cr1. My only source of income is from renting out my house. If I take the amount of the rent check and multiply by 12 my "income" is a bit over the 125% requirement. However, due to deductions/adjustments (otherwise known as Schd E) my "Total Income" on the tax transcripts is VERY much lower, much lower than the 125% to be sure.

My question is, what number do I include in part 6 line "5. My current individual annual income is:" , the 12*(the rent) or the figure from the tax transcript?

The instructions do not say to use the figure from the tax transcript, that is asked for separately a couple of questions later. I realize the examiner is going to see the lower number, but with other evidence I think a reasonable person would conclude that I meet the 125% guideline, and have a better than average chance of avoiding the welfare lines. (the other evidence consists of highly paid work history, education, home ownership - albeit without a licenced appraisal, so its not included in assets). Or maybe am just fooling myself, and the examiner is going to look at the tax transcript, and say your income does not meet the guidelines... here, have a nice checklist for your troubles.

BTW, even if I have to enlist a joint sponsor, my question would remain which number for the P6L5 entry to avoid a checklist for having the "wrong" number.

Thanks in advance,

S&N

[ibhitchin 1]

OK, nobody wanted to take a shot at this...

I asked the NVC, and have come to my conclusion, although they did not come right out and tell me the answer (its a legal document therefore they can not tell me what to put on it, you'll have to make your best guess and the person reviewing it will decide if it's right or not!!!)

However I got the strong impression it is supposed to be after deducting for unavoidable expenses, which I was already pretty sure of. So as you can see in my other post, I have enlisted some co-sponsors.

Thanks for everyone's time.