I 864 current annual income

[Mrsjackson 300]

Hello, 

 

My husband is self employed. For current individual annual income on the I 864 am I correct in thinking that we add all the deposits into his bank account from 2018 and ascertain what he will most likely make this year? Thanks

[geowrian 22,338]

They will use his most recent year's tax return (line 22 on the 1040) to determine his current income since he is self employed.

 

One can use bank assets in lieu of or to supplement current income (with the minimum required income level/gap being 3x the amount of assets) for a spouse.

[Mrsjackson 300]

45 minutes ago, geowrian said:

They will use his most recent year's tax return (line 22 on the 1040) to determine his current income since he is self employed.

 

One can use bank assets in lieu of or to supplement current income (with the minimum required income level/gap being 3x the amount of assets) for a spouse.

Thank you. I read an article that said the current year line was a different thing than the tax year line and it’s your projected income so I thought I’d just be safe ask on here too.