GI Bill...I864...anyone doen this before??

[Babsi 0]

Hey,

Im about to fill out a new I864 but I got a problem...my husnabd goes to college..so that would be his employer, right?? He gets paid by the army, hes got a GI Bill, so that his income, right?? Now, they are asking for hourly salary...since I know how much he gets paid per months, can I just figure out how much it would be per hour?

Also, in part D No 3 it sais "Minimum income from the Poverty Guidelines chart for the year of.............." do I put 2006 and then the poverty line??

[zyggy 9]

Hey,

Im about to fill out a new I864 but I got a problem...my husnabd goes to college..so that would be his employer, right?? He gets paid by the army, hes got a GI Bill, so that his income, right?? Now, they are asking for hourly salary...since I know how much he gets paid per months, can I just figure out how much it would be per hour?

Also, in part D No 3 it sais "Minimum income from the Poverty Guidelines chart for the year of.............." do I put 2006 and then the poverty line??

GI bill is not considered income. It's no different than a student loan in terms of I-864 requirements. Your spouse is going to have to get a co-sponsor.

[den_y2005 0]

you need to have a co-sponsor

[Babsi 0]

Are you guys sure? I heard that its income and we didnt have any trouble when we filled for K1...

[Jenn! 918]

Are you guys sure? I heard that its income and we didnt have any trouble when we filled for K1...

Does he receive a W2 for this "income"?

[Babsi 0]

Mh, that i dont know...thanks guys anyways...guess its about time to freak out now...

So, what if he made enought for the last 3 years and we have tax returns to proof that...will we still need a co sponsor since the gi bill money doesnt count as income??

[Jenn! 918]

I think they look at line 7 (?) from the income tax return for reported wages to determine whether or not the 125% requirement has been met. If his earnings from the GI Bill are reported as wages, meaning he received a W2 for those earnings, it seems like you'll be fine. As mentioned above though, zyggy appears to be certain that the GI Bill earnings are NOT income. I'm no expert, so you should definitely check with your husband about whether or not his are taxable earnings.

If he does not meet the 125% requirement on his tax returns, then you will need a co-sponsor.

[Babsi 0]

he did for sure for 2002, 2003 and 2004...we havent filled taxes for 2005 yet...

he also does work for a guy but he gets paid kinda under the table so we dont have any pay stubs, just an employment letter stating how much he makes

[notrepetiteashley 0]

Will it be difficult to get a co-sponsor?

We are using one, too...my mom. No big deal here.

Good luck!!

[zyggy 9]

Will it be difficult to get a co-sponsor?

We are using one, too...my mom. No big deal here.

Good luck!!

GI Bill is like a government sponsored 529 Plan in that the soldier funds a part of it and the government funds a part of it. So in as much as a 529 wouldn't be considered as income, GI BIll is not considered income either...

[Jenn! 918]

Will it be difficult to get a co-sponsor?

We are using one, too...my mom. No big deal here.

Good luck!!

GI Bill is like a government sponsored 529 Plan in that the soldier funds a part of it and the government funds a part of it. So in as much as a 529 wouldn't be considered as income, GI BIll is not considered income either...

But Babsi says his earnings from the GI Bill were reported as wages on his income tax returns. Doesn't that determine whether certain earnings are considered income as per the I-864?

[Babsi 0]

Oh no, I got that wrong, I guess he get 1099 or something like that by the end of the year, so its not really under the table...

Edited March 20, 2006 by Babsi

[zyggy 9]

Will it be difficult to get a co-sponsor?

We are using one, too...my mom. No big deal here.

Good luck!!

GI Bill is like a government sponsored 529 Plan in that the soldier funds a part of it and the government funds a part of it. So in as much as a 529 wouldn't be considered as income, GI BIll is not considered income either...

But Babsi says his earnings from the GI Bill were reported as wages on his income tax returns. Doesn't that determine whether certain earnings are considered income as per the I-864?

I don't see that above.. only states that she heard it as such... From what I understnad of the Gi Bill, it is treated as much like a 529 Plan.

From the GI Bill website

"Payments you receive for education, training, or subsistence under any law administered by the Department of Veterans Affairs (VA)are tax free. Do not include these payments as income on your federal tax return. If you qualify for one or more of the education benefits discussed in chapters 2 through 12

So the above proves it.. it is NOT income...

Edited March 20, 2006 by zyggy

[Babsi 0]

No, he just started going to college so we havent dealt with that before...so his earnings from the GI Bill were NOT reported as wages on his income tax returns before, since he just started going to school

[Autumnal 25]

For the year and poverty guidelines, you will want to use 2006 if the values are available for it. It not, put down 2005. The differences should be pretty minimal, I would think.

Put in all the income that he makes -- if he does work for someone, that should be counted too. Sorry, I know nothing about the GI Bill or what it is for.

If you don't make the minimum poverty guidelines with him, he may need to list any significant assets if he owns property or has stocks and investments. If not, then it's time for a co-sponsor.

Co-sponsorship is basically the same as the I-864 except it's another person whose income is supplemental. For example, one of his parents might fill out the form and include any notable assets, jobs, etc.