Questions on I-864, do I need a joint sponsor?

[JamesS 0]

Hello,

I am petitioning my wife and her daughter's AOS. (they came here with K-1 and K-2 visa respectively).

I divorced with my EX last year. Shortly after I started my own business by registering a LLC. In 2015, I didn't make any business income. The only income from 2015 was Interests and dividends (~$7,300). Therefore, I didn't file 1040 (as not required). I filed 1040 with my EX as a joint return in both 2014 and 2013.

This year (2016), the foreseeable income from interests and dividends should be about the same as last year. However, I don't have any business income yet.

As such, I am trying to use my assets to supplement the income shortage.

Currently, I have 1) $331K in savings and checking accounts and 2) $407K in mutual funds including $312K in my various retirement accounts (IRA, Roll-over IRA, and Roth IRA).

My wife (the principle sponsored immigrant) owns an apartment in Hangzhou, China that is currently on the market for sale. The expected cash value should be around $380K. However, I don't know what evidence we have to support this.

The household size for my case is 3 (me, my wife, and her daughter)

Q:

1) Do I need a joint sponsor? I can ask my sister (with a very high salary) as a joint sponsor. But she and her husband are quite sensitive/reluctant about disclosing their financial material, such as 1040, and etc. I will ask her be a joint sponsor if we don't have a choice.

2) On I-864, I put down total income for 2015 ($7,300), 2014 ($xxx,xxx - adjusted gross income taken directly from the joint return by me & my ex), 2013 ($xxx,xxx - again, adjusted gross income taken directly from the joint return by me & my ex). Is this correct?

3) On I-864, I checked myself as self-employed, and put down $7,300 as my current individual income. Is this correct?

4) I will attach a statement explaining why I was not required to file 1040 in 2015. In that statement, I will also clarify that I filed 1040 in both 2014 and 2013. Should I also attach the IRS 1040 transcripts for 2014 and 2013? I have both 2014 and 2013 prepared.

Thanks for your help.

[JamesS 0]

Bump！

I am desperately need your help! TIA

[aaron2020 11,651]

  On 7/22/2016 at 6:05 PM, JamesS said:

Hello,

I am petitioning my wife and her daughter's AOS. (they came here with K-1 and K-2 visa respectively).

I divorced with my EX last year. Shortly after I started my own business by registering a LLC. In 2015, I didn't make any business income. The only income from 2015 was Interests and dividends (~$7,300). Therefore, I didn't file 1040 (as not required). I filed 1040 with my EX as a joint return in both 2014 and 2013.

This year (2016), the foreseeable income from interests and dividends should be about the same as last year. However, I don't have any business income yet.

As such, I am trying to use my assets to supplement the income shortage.

Currently, I have 1) $331K in savings and checking accounts and 2) $407K in mutual funds including $312K in my various retirement accounts (IRA, Roll-over IRA, and Roth IRA).

My wife (the principle sponsored immigrant) owns an apartment in Hangzhou, China that is currently on the market for sale. The expected cash value should be around $380K. However, I don't know what evidence we have to support this.

The household size for my case is 3 (me, my wife, and her daughter)

Q:

1) Do I need a joint sponsor? I can ask my sister (with a very high salary) as a joint sponsor. But she and her husband are quite sensitive/reluctant about disclosing their financial material, such as 1040, and etc. I will ask her be a joint sponsor if we don't have a choice. You do not need a Joint Sponsor. You can sponsor with your assets. For a household of 3, you would need $75,000 in assets. You have more than enough to cover that. Include your statements with the I-864 as proof.

2) On I-864, I put down total income for 2015 ($7,300), 2014 ($xxx,xxx - adjusted gross income taken directly from the joint return by me & my ex), 2013 ($xxx,xxx - again, adjusted gross income taken directly from the joint return by me & my ex). Is this correct? No. You can only include your income. You can not include your ex-wife's income. Subtract her income from the numbers you report for 2013 and 2014.

3) On I-864, I checked myself as self-employed, and put down $7,300 as my current individual income. Is this correct? Yes. Include proof of this income with your year end tax statements and latest statements from those accounts.

4) I will attach a statement explaining why I was not required to file 1040 in 2015. In that statement, I will also clarify that I filed 1040 in both 2014 and 2013. Should I also attach the IRS 1040 transcripts for 2014 and 2013? I have both 2014 and 2013 prepared. They are not required, but can submit them at your option.

Thanks for your help.

[JamesS 0]

Thanks Aaron. Greatly appreciated.

Regarding Q1, Would you or anyone else mind shedding a light how $75K figure is obtained?

And for Q2, various sources gave different answers...some, like you, said the number should be only sponsor's income alone, while others suggested that it should just copy off the number directly from joint return, which is the adjusted gross (combined) income.

[aaron2020 11,651]

  On 7/24/2016 at 5:43 PM, JamesS said:

Thanks Aaron. Greatly appreciated.

Regarding Q1, Would you or anyone else mind shedding a light how $75K figure is obtained? It's 3x the 125% poverty line for a household of 3. See the I-864p and the instructions for the I-864.

And for Q2, various sources gave different answers...some, like you, said the number should be only sponsor's income alone, while others suggested that it should just copy off the number directly from joint return, which is the adjusted gross (combined) income. Number from joint return if your mother was a household member. She no longer qualify since she divorced your dad. His household no longer includes her, so you can not count her income which is part of the numbers from the tax return. Ask yourself, does it make sense to count your mother's income when she is not qualified to file your your father's household member.

[JamesS 0]

  On 7/24/2016 at 5:55 PM, aaron2020 said:

Thanks...You are right. Per you suggestion, I went through I-864 Inst. and I-864P. For a household size of 3, 125% of HHS poverty guideline is $25,200. And I am an USC sponsoring my spouse. So the total value of assets must only be equal to at least 3 times of $25,200 (~= $75K) provided my current income is 0.

Here are a few more questions:

• What supporting evidence needs to be submitted to demonstrate my assets? Would 1) 12mo bank statements for my savings and checking accounts & 2)12mo statements for my investment/mutual fund accounts be sufficient?
• Can I include my retirement account (currently invested in mutual funds) as part of my assets to supplement income shortage? Please confirm.
• My wife has an apartment in China values about $380K (currently is on the market for sale). However, I don't know how to get any supporting evidence showing the apartment is worth $380K. Then, Is it a good idea for NOT including it in my I-864? I am afraid It might trigger RFE if I do. Besides, I myself alone already has enough assets to sponsor. Any opinions?

Thanks

[aaron2020 11,651]

  On 7/24/2016 at 9:40 PM, JamesS said:

Thanks...You are right. Per you suggestion, I went through I-864 Inst. and I-864P. For a household size of 3, 125% of HHS poverty guideline is $25,200. And I am an USC sponsoring my spouse. So the total value of assets must only be equal to at least 3 times of $25,200 (~= $75K) provided my current income is 0.

Here are a few more questions:

• What supporting evidence needs to be submitted to demonstrate my assets? Would 1) 12mo bank statements for my savings and checking accounts & 2)12mo statements for my investment/mutual fund accounts be sufficient? That should be good enough.
• Can I include my retirement account (currently invested in mutual funds) as part of my assets to supplement income shortage? Yes, you can include your retirement accounts. Please confirm.
• My wife has an apartment in China values about $380K (currently is on the market for sale). However, I don't know how to get any supporting evidence showing the apartment is worth $380K. Then, Is it a good idea for NOT including it in my I-864? I am afraid It might trigger RFE if I do. Besides, I myself alone already has enough assets to sponsor. Any opinions? She would need a legal appraisal. Don't include it since you have more than enough assets on your own to qualify.

Thanks