Has anyone successfully used assets for the (I-864) Affidavit of Support?

[Mini_Matryoshka 2]

Hi, everyone! Has anyone used assets rather than income to sponsor their spouse for a CR-1/IR-1 visa to the U.S? If yes, can you give some details and did it work out?

Also, for U.S. citizen spouses, is the difference in required income and actual income multiplied by three or five to determine assets needed?

MORE INFO: I (U.S. Citizen) am sponsoring my husband. I would like to include 2020's tax return in the I-864. I earn just over the minimum income required. However, I usually claim a number of deductibles on my taxes because I am a freelancer in a gig economy. If I claim the deductibles like usual, this will lower my income to a few thousand dollars less than needed. On the other hand, if I don’t claim the deductibles, I’m going to owe a couple extra thousand dollars in taxes which isn’t ideal because we’re expecting a baby in the spring and I’ll be out of work for a while.

Our total assets amount to around $32,000. I’m wondering if that’s enough to cover the asset requirement, but I’ve read conflicting information online. Any replies would be appreciated!

[pushbrk 13,157]

3 hours ago, Mini_Matryoshka said:

Hi, everyone! Has anyone used assets rather than income to sponsor their spouse for a CR-1/IR-1 visa to the U.S? If yes, can you give some details and did it work out?

Also, for U.S. citizen spouses, is the difference in required income and actual income multiplied by three or five to determine assets needed?

MORE INFO: I (U.S. Citizen) am sponsoring my husband. I would like to include 2020's tax return in the I-864. I earn just over the minimum income required. However, I usually claim a number of deductibles on my taxes because I am a freelancer in a gig economy. If I claim the deductibles like usual, this will lower my income to a few thousand dollars less than needed. On the other hand, if I don’t claim the deductibles, I’m going to owe a couple extra thousand dollars in taxes which isn’t ideal because we’re expecting a baby in the spring and I’ll be out of work for a while.

Our total assets amount to around $32,000. I’m wondering if that’s enough to cover the asset requirement, but I’ve read conflicting information online. Any replies would be appreciated!

Sounds like you are borderline.  For the self employed, your current income will be the number on the line of the 1040 labeled total income.  That number is AFTER you take your deductions.

 

You need 3 times the income shortfall in "liquid assets".  See the instructions for that definition, but if it's cash in a savings or investment account, it's definitely liquid.

 

Note that meeting the minimum is just that.  It assures nothing.  It's all a judgment call based on the totality of circumstances.

 

Yes, many have used assets even with zero income.  Sometimes people in your position neglect to take all their deductions when they file, then remember them later and file an amended return.

[Mini_Matryoshka 2]

@pushbrk Excellent information! Thank you for taking the time to reply. 

[TBoneTX 46,226]

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