Annual Income Required for AOS.

[JANETandLYLE 11]

To do the AOS, adjusted gross income is required to show (I am self employed). This whole covid thing really kept me from making the money I needed to make, but I did finally recover in 2022. How many year's back taxes do we need to show to do my Wife's AOS? Would 2022 alone be sufficient, or do we need to show 3 years of back taxes. She is not planning to work anywhere, so basically at this point, we just want to do a AOS, if more than last years taxes would be required. I had a loss for 2019, 2020, and 2021. Again, 2022 I did well and am quite a above the 125% of poverty level. Just me and the Wife here. Will I need a co-sponsor to get this done? 

[powerpuff 6,519]

~~ Topic moved from K1 forum to AOS from K1 visas forum - this AOS question, but K1 ~~
 

You’re required to submit a tax return for the most recent year with the application. In the I-864, you have to list your income for the last 3 years but you’re not required to show taxes for other years except the most recent one.

[JANETandLYLE 11]

So I will need to show income for each year individually or just show a total of income for the last three years? 2022, was a great year for my business. So to be clear for the AOS, I need to just show 2022? By the time I get the AOS submitted, 2022 taxes would be completed. 

 

Since 2020, and 2021 i showed losses, would it be beneficial for me to also use assets (old collector cars) to make up for the losses in 2020, and 2021. I have several old collector type cars that seem to have a high value according to NADA dollar amount figures. Just curious, if that would even be necessary if we are concerned with income over a three year period. 

Edited March 3, 2023 by JANETandLYLE

[Crazy Cat 41,431]

58 minutes ago, JANETandLYLE said:

To do the AOS, adjusted gross income is required to show (I am self employed). This whole covid thing really kept me from making the money I needed to make, but I did finally recover in 2022. How many year's back taxes do we need to show to do my Wife's AOS? Would 2022 alone be sufficient, or do we need to show 3 years of back taxes. She is not planning to work anywhere, so basically at this point, we just want to do a AOS, if more than last years taxes would be required. I had a loss for 2019, 2020, and 2021. Again, 2022 I did well and am quite a above the 125% of poverty level. Just me and the Wife here. Will I need a co-sponsor to get this done? 

I believe you use TOTAL income for determining current income (self-employed).  .  But you need only most recent year to show current income. 

25 minutes ago, JANETandLYLE said:

So I will need to show income for each year individually or just show a total of income for the last three years? 2022, was a great year for my business. So to be clear for the AOS, I need to just show 2022? By the time I get the AOS submitted, 2022 taxes would be completed. 

 

Since 2020, and 2021 i showed losses, would it be beneficial for me to also use assets (old collector cars) to make up for the losses in 2020, and 2021. I have several old collector type cars that seem to have a high value according to NADA dollar amount figures. Just curious, if that would even be necessary if we are concerned with income over a three year period. 

On the I-864, you MUST show tax info for all 3 years. 

Edited March 3, 2023 by Crazy Cat

[SteveInBostonI130 3,381]

43 minutes ago, JANETandLYLE said:

To do the AOS, adjusted gross income is required to show (I am self employed). 

 

Total Income is used for self employed:  income minus expenses.

 

Requirement is a tax return for the most recent tax year.  Tax returns for years 2 and 3 are optional.  You will, however, have to list the income of years 2 and 3.

 

You may need a joint sponsor.  The decision will be up to the CO.. If you are submitting the AOS now, it will take over a year and you should have 2023 taxes to help in the determination.

[Rocio0010 5,579]

Make it easy for you and get a joint sponsor.

[JANETandLYLE 11]

I appreciate all the advice, everyone, thank you. 

[JANETandLYLE 11]

Ok, I have a question on a joint sponsor. Do they need to be able to show at least $22,887 a year on their taxes for the three years to be able to assist me? I can only show good for 2022. Both 2021 and 2020 I showed a loss both years at my self employed business of roughly $5000.00. It was all due to covid and in my area, people kind of stopped spending much money. We lost many businesses around town. 

 

I admit, my income for the past three years does not look good. Two years with losses, and 2022 will show above what is required, but this still won't work as far as getting approved. Was just curious about finding a co-sponsor and what they would have to be able to show  in gross income after deduction's. as the two I am thinking of are also self employed. Sorry for the rambling on. Just thought I had this all covered. Come to find out, I don't. 

[RUJEN 140]

I am also self employed in the grading business and had an RFE on income. They want AGI which buries people like us. My net income after expenses was over $100K but after all the depreciation I can use, my AGI was around $10K. I don't have the luxury of having a co-sponsor so I used assets. I have verified assets well over 7 figures and sent it all in and haven't heard anything yet. I told my CPA this year to make sure my AGI is over $30K to make sure all is good, even if I have to pay more in taxes I think it is worth it.

[JANETandLYLE 11]

Well, just got off the phone with my Brother. He is going to co-sponsor. he makes around 60k a year, and said he was more than willing to help. Yes, sometimes being self employed is not so good. I could of bought less in supplies and parts etc for my business and been fine to be able to show more than the 125% above poverty level, but I thought they only needed one year of back taxes. Moving forward, I know now what needs to happen. I have retained an Immigration Attorney also at 5k, and he will handle almost all of the paperwork, etc. I am feeling much better right now. I had considered trying to use collector cars as assets. I have 38 old cars in all different stages of restoration, but did not want to go that route if possible. I want to say thank you to all of you for the suggestions and advice. 

 

So moving forward do I need to show (and submit)  sufficient income for at least the next five years, until my Wife gets her citizenship? 

Edited March 4, 2023 by JANETandLYLE

[powerpuff 6,519]

~~ Duplicate thread removed. Please do not start multiple threads asking same or related questions ~~
 

5 minutes ago, JANETandLYLE said:

We are in the US. Doing an AOS for my Wife who came here from the Philippines, on a K1. They want to see three years of back taxes. Through covid my business did not do good, and I can not meet the 125% above poverty level guidelines. I did get a co-sponsor who makes more than enough money to help. So with that being said, I will be submitting three years of back taxes, all showing me in the negative as far as my gross income (self employed). My co-sponsor is not self employed and can show whatever is required. Pay stubs, letter from employer, whatever. Since I am going to be showing all three years in the  negative, is this going to be a problem since I have a co-sponsor? 

 

Secondly, My understanding it takes like five years for my wife to be eligible to actually become a US citizen. If moving forward my income level is well above the 125% of poverty level, is my co-sponsor still having to be co-sponsoring for the whole time until my Wife reaches citizenship? He only asked me if my income is there, does he still need to be a co-sponsor. I believe once he signs up to be my co-sponsor, he does, but not certain. How long he is responsible as a co=sponsor for? 5 years or longer? My business has recovered financially after covid, so i see no problems with my own income moving forward, but he asked how long he was on the "hook" for. Thanks for an replies. 

1. Not a problem since you have a co sponsor.

 

2. 3 years for spouses of US citizens but the clock starts when she becomes an LPR. Yes, he will be a co-sponsor until she becomes a citizen. 
 

On 3/3/2023 at 9:25 PM, JANETandLYLE said:

So moving forward do I need to show (and submit)  sufficient income for at least the next five years, until my Wife gets her citizenship? 

No. You won’t be asked for this after the AOS is done. She will have to show she filed taxes when times come for N-400, I’m assuming you’ll be filing MFJ. 

[JANETandLYLE 11]

Thanks for the reply. My Wife would only be filing taxes with me as married, as she won't be working. I will be the only one working in my auto business. We tired filing before previous years taxes, but they kicked it back as she didn't have a social security number So it takes five years for her to become a citizen? They won't ask for taxes after the AOS, only right now? Don't they want to know as this plays out and she is waiting to become a permanent citizen that I have enough income to still be supporting her? 

[powerpuff 6,519]

Could be 3 years. Please see my answer above.

 

17 minutes ago, JANETandLYLE said:

They won't ask for taxes after the AOS, only right now? Don't they want to know as this plays out and she is waiting to become a permanent citizen that I have enough income to still be supporting her? 

There is a high chance they’ll ask for an updated I-864 and supporting documents at the AOS interview. After that, no they would not be asking for it. You already signed it so it’ll be in effect regardless 

[JANETandLYLE 11]

Thank you for the replies, everyone.