Income requirements for K-1 visa

[Ks12 0]

USC here looking to file K-1 visa for my fiancée (haven’t started the process yet).

 

A few months ago, a family member of mine passed away, leaving me a decent amount of stocks and bonds. Projected income in interest and dividends is $30-40,000 per year. This information obviously is not listed on my 2019 tax return, as the money wasn’t yet in my account. 

 

In terms of income from my job, I made only about $16,000 in 2019. I’m currently working abroad and receive no paystubs or proof of income. Is this going to be a problem? 

Edited June 28, 2020 by Ks12

[JFH 12,189]

If your income won’t continue from the same source when you return to the US it doesn’t count anyway. You can use the assets. 

[Ks12 0]

So it’s okay that the assets aren’t on my tax return? Should brokerage statements be sufficient for proof of income?

[David and Anna 118]

1 hour ago, Ks12 said:

So it’s okay that the assets aren’t on my tax return? Should brokerage statements be sufficient for proof of income?

 

In the USA we do not report assets on our tax returns anyways, so that is not going to be a proof of assets for anyone.  Read the instructions for the relevant form and it will tell you what you need to show for proof of assets. (generally broker or bank statements for proof of assets such as savings accounts, stocks, bonds, etc).  

Edited June 28, 2020 by David and Anna

[Ks12 0]

1 hour ago, David and Anna said:

 

In the USA we do not report assets on our tax returns anyways, so that is not going to be a proof of assets for anyone.  Read the instructions for the relevant form and it will tell you what you need to show for proof of assets. (generally broker or bank statements for proof of assets such as savings accounts, stocks, bonds, etc).  

I’m talking about the passive income generated from these assets; that is definitely reported in my taxes. But anyways I guess the brokerage statement will be enough. Thank you!

[payxibka 10,045]

If you haven't started the process it will be 2021 before you will provide the affidavit of support and your 2020 tax transcripts 

[Xia Angela 5]

15 hours ago, Ks12 said:

USC here looking to file K-1 visa for my fiancée (haven’t started the process yet).

 

A few months ago, a family member of mine passed away, leaving me a decent amount of stocks and bonds. Projected income in interest and dividends is $30-40,000 per year. This information obviously is not listed on my 2019 tax return, as the money wasn’t yet in my account. 

 

In terms of income from my job, I made only about $16,000 in 2019. I’m currently working abroad and receive no paystubs or proof of income. Is this going to be a problem? 

If u're using asset it must be 5x times from the difference. This is the table househould for income requirement 

[Lucky2Lucky 2,526]

18 hours ago, Ks12 said:

USC here looking to file K-1 visa for my fiancée (haven’t started the process yet).

 

A few months ago, a family member of mine passed away, leaving me a decent amount of stocks and bonds. Projected income in interest and dividends is $30-40,000 per year. This information obviously is not listed on my 2019 tax return, as the money wasn’t yet in my account. 

 

In terms of income from my job, I made only about $16,000 in 2019. I’m currently working abroad and receive no paystubs or proof of income. Is this going to be a problem? 

FYI... 30-40k a year is not much. You will need a joint sponsor when it comes time to complete her adjustment of status. For a spouse you need 3x the poverty limit in assets which you currently do not meet.

 

What cash value of assets is needed?

The total net value of assets, less liens and liabilities against them, must equal five times the difference between the sponsor's income and 125% of the poverty level for the household size.

Sponsors of spouses and children of U.S. citizens must only prove assets valued at three times the difference between the poverty guidelines and actual household income.

 

https://travel.state.gov/content/travel/en/us-visas/immigrate/the-immigrant-visa-process/step-1-submit-a-petition/i-864-affidavit-faqs.html#aos13

 

[payxibka 10,045]

1 hour ago, Luckycuds said:

FYI... 30-40k a year is not much. You will need a joint sponsor when it comes time to complete her adjustment of status. For a spouse you need 3x the poverty limit in assets which you currently do not meet.

 

 

OP is not saying 30 to 40k of assets but 30 to 40k of annual INCOME 

[Lucky2Lucky 2,526]

1 hour ago, payxibka said:

OP is not saying 30 to 40k of assets but 30 to 40k of annual INCOME 

Thank you for the clarification