I-864 Joint Sponsor Income Questions

[neca 166]

Hi All, I hope this is the right place for this,

 

I am using a Joint Sponsor, and her income comes from a few separate places. She makes just under the poverty guidelines from self-employed income (realtor) and has a 1099 for that, but she also has a 1099r that she also lives off of. Does this count as income or as an asset? It is inheritance from her deceased father's life insurance (and his retirement/a retirement stream if I'm not mistaken). With the amount on the 1099r she well exceeds the poverty guideline amount, so it would be helpful if this could be counted as income.

If the 1099r counts as an asset and not income, is it worth front-loading as much of her other assets into the form as possible, or will the 1099r (which well satisfies the 3-5 times difference asset requirement) be sufficient?

 

I'd also appreciate any direction or insight regarding calculating the current individual annual income; as she is a realtor and works off of commission, her income from that can be relatively inconsistent at times.

 

Thank you all for your time 👐

[payxibka 10,045]

2 minutes ago, neca said:

Hi All, I hope this is the right place for this,

 

I am using a Joint Sponsor, and her income comes from a few separate places. She makes just under the poverty guidelines from self-employed income (realtor) and has a 1099 for that, but she also has a 1099r that she also lives off of. Does this count as income or as an asset? It is inheritance from her deceased father's life insurance (and his retirement/a retirement stream if I'm not mistaken). With the amount on the 1099r she well exceeds the poverty guideline amount, so it would be helpful if this could be counted as income.

If the 1099r counts as an asset and not income, is it worth front-loading as much of her other assets into the form as possible, or will the 1099r (which well satisfies the 3-5 times difference asset requirement) be sufficient?

 

I'd also appreciate any direction or insight regarding calculating the current individual annual income; as she is a realtor and works off of commission, her income from that can be relatively inconsistent at times.

 

Thank you all for your time 👐

1099r is income 

[kris&me 572]

1099r is income 

this will be noted on her tax returns on line 16 b of her 1040

IRS lists it as taxable pension /annunity amount on page 2 of 6 of IRS transcripts

[neca 166]

Great to read, this helps things immensely. Cheers!

[pushbrk 12,877]

But also note that since she is self employed, it is not the 1099s that she will use to show current income.  It will be the tax return transcript itself.  She should also document that the 1099r source will continue and for how long.

[neca 166]

12 hours ago, pushbrk said:

But also note that since she is self employed, it is not the 1099s that she will use to show current income.  It will be the tax return transcript itself.  She should also document that the 1099r source will continue and for how long.

Will do 👍