Income after FSA and 401K deductions & expired I 864

[DeepInLove 35]

1. I have my tax transcripts from IRS for last 3 years, what to write on form I 864, total income after taxes, or total income before taxes. 

2. Also should I write total taxable income before 401K or after deducting 401K and FSA for last three years? Please help. I donot have 1040s, do I need them to submit?
3. Lastly, I 864 expired on 07/31/2017. Should I use the expired form from USCIS website or should wait for the new version to release?

Please help.

[Longingfor 195]

Firstly, please read the instructions that accompany I-864. If you do you will be ok.

 

Second, if there is not an uodated form on USCIS website then use what is available. You can also call and have them send you the correct dorm if still in doubt.

 

[Ryan H 3,812]

16 hours ago, DeepInLove said:

1. I have my tax transcripts from IRS for last 3 years, what to write on form I 864, total income after taxes, or total income before taxes. 

2. Also should I write total taxable income before 401K or after deducting 401K and FSA for last three years? Please help. I donot have 1040s, do I need them to submit?
3. Lastly, I 864 expired on 07/31/2017. Should I use the expired form from USCIS website or should wait for the new version to release?

 

Answers:

1. Before taxes
2. Transcripts are sufficient, you don't need the 1040's.  They are only interested in your total income, not total taxable income.
3. The expiration date you see is the expiration of the comment period to the Office of Management and Budget; the form itself does not expire and can be used.

Edited August 30, 2017 by Ryan H

[pushbrk 12,890]

4 hours ago, Ryan H said:

 

Answers:

1. Before taxes
2. Transcripts are sufficient, you don't need the 1040's.  They are only interested in your total income, not total taxable income.
3. The expiration date you see is the expiration of the comment period to the Office of Management and Budget; the form itself does not expire and can be used.

Total income tends to be but might now always be the same as taxable income. It comes from line 22 of a 1040 form.  Unless self employed, tax return information has no bearing whatsoever on "current income".

 

3.  Correct

 

[pushbrk 12,890]

I should have written "might NOT always be the same".  An example of when total income is not the number on line 22 would be for somebody receiving Social Security retirement benefits and is self employed.  For them, both total income and current income is line 22 minus the taxable SS benefits (included in line 22) plus the total Social Security benefits.  Non-taxable income is still income.

 

Another example would be a professional receiving disability benefits from a personal policy they used taxable income to pay for and also working.  The disability benefits are non-taxable but still income.  I say "professional" because those are the people that tend to buy disability insurance that covers them if they are unable to perform the "own occupation".  An example would be a surgeon who can no longer hold a scalpel but is teaching medicine at a medical school.  A dentist who can no longer "hold the position" might have the same situation.

Edited August 30, 2017 by pushbrk