i134 income question

[GetOutside 164]

I need a little guidance with I134 annual income. I am both self employed and employed. I am a bit confused on what exact number I am supposed to fill in for "my annual income is" Part 3 question 3. 

 

I am providing my tax transcripts for evidence for fiance's K1 interview (next week-Australia). But am using 1040 as my guide for filling out income question.

EMPLOYMENT- On my 2019 1040, line 1 for wages, salaries, tips is $25, 353. Line 7B for total income is $25,178. 

SELF EMPLOYMENT- 1040 for Schedule C lines 1,3,5,7 for gross profit and income is at $2906. I have been reading the consulate looks at line 22- which is at $175. Can someone confirm this?

 

What is my total annual income? Which numbers am I adding up? My guess is 25353+2906 = $28,259 total annual income. I am doubting myself, however.

[Hank_ 9,174]

18 hours ago, Jsg2016 said:

I need a little guidance with I134 annual income. I am both self employed and employed. I am a bit confused on what exact number I am supposed to fill in for "my annual income is" Part 3 question 3. 

 

I am providing my tax transcripts for evidence for fiance's K1 interview (next week-Australia). But am using 1040 as my guide for filling out income question.

EMPLOYMENT- On my 2019 1040, line 1 for wages, salaries, tips is $25, 353. Line 7B for total income is $25,178. 

SELF EMPLOYMENT- 1040 for Schedule C lines 1,3,5,7 for gross profit and income is at $2906. I have been reading the consulate looks at line 22- which is at $175. Can someone confirm this?

 

What is my total annual income? Which numbers am I adding up? My guess is 25353+2906 = $28,259 total annual income.    I am doubting myself, however.

 

Not a tax guy, but your GROSS income on your schedule C isn't your income,  I bet you have deductions and such which is why you use the schedule C ..so your income there is probably the $175 you mentioned.   But I think at some point your income from the two are combined   ... that is your total income

[GetOutside 164]

4 hours ago, Hank_ said:

 

Not a tax guy, but your GROSS income on your schedule C isn't your income,  I bet you have deductions and such which is why you use the schedule C ..so your income there is probably the $175 you mentioned.   But I think at some point your income from the two are combined   ... that is your total income

Thank you for the reply. Clarifying that gross income on schedule C isn't my income helps out the confusion. 

 

I just realized however that the 2019 1040 is now different from previous years. The lines and numbers are not the same. So "line 22" is a different line now. Line 22 from previous years is now irrelevant when it comes to I134. It is now line 9 under part 1 additional income for anyone who is using their 2019 tax return info for self employment.

 

In which case this number is at -$175 for me. This explains why my "total income" went from  $25,353 (only employee income) to $25,178 (includes my write offs and loss from self employment 25,353-175 line 9). 

 

 @Hank do you now think I should write down for 1134 "my annual income is " $25, 178? 

 

[GetOutside 164]

25 minutes ago, Jsg2016 said:

Thank you for the reply. Clarifying that gross income on schedule C isn't my income helps out the confusion. 

 

I just realized however that the 2019 1040 is now different from previous years. The lines and numbers are not the same. So "line 22" is a different line now. Line 22 from previous years is now irrelevant when it comes to I134. It is now line 9 under part 1 additional income for anyone who is using their 2019 tax return info for self employment.

 

In which case this number is at -$175 for me. This explains why my "total income" went from  $25,353 (only employee income) to $25,178 (includes my write offs and loss from self employment 25,353-175 line 9). 

 

 @Hank do you now think I should write down for 1134 "my annual income is " $25, 178? 

 

At least I believe this is what I deciphered with the change of numbers and lines with the 2019 1040 and schedule C. Please someone correct me if I'm wrong. This stuff is confusing the ####### out of me with being both an employee and self employed. 

[Hank_ 9,174]

1 hour ago, Jsg2016 said:

Thank you for the reply. Clarifying that gross income on schedule C isn't my income helps out the confusion. 

 

I just realized however that the 2019 1040 is now different from previous years. The lines and numbers are not the same. So "line 22" is a different line now. Line 22 from previous years is now irrelevant when it comes to I134. It is now line 9 under part 1 additional income for anyone who is using their 2019 tax return info for self employment.

 

In which case this number is at -$175 for me. This explains why my "total income" went from  $25,353 (only employee income) to $25,178 (includes my write offs and loss from self employment 25,353-175 line 9). 

 

 @Hank do you now think I should write down for 1134 "my annual income is " $25, 178? 

 

 

On the I-134 you write down the income as noted in the first section on the 1040, not sure of the "number" for that line.  You don't need to make any additional notation about the income on the I-134.   The embassy will look at the tax return/transcript for your "income" 

[GetOutside 164]

7 minutes ago, Hank_ said:

 

On the I-134 you write down the income as noted in the first section on the 1040, not sure of the "number" for that line.  You don't need to make any additional notation about the income on the I-134.   The embassy will look at the tax return/transcript for your "income" 

Thank you @Hank !