Self-employed income on I-864

[Deang6 2]

What documents are needed to show self-employed income with Form I-864?

Edited March 14 by Deang6

[pushbrk 12,806]

18 minutes ago, Deang6 said:

What documents are needed to show self-employed income with Form I-864?

A complete copy of your latest federal tax return...or....a Tax Return Transcript.  Your current income AND the number you will enter in the tax section, is the same for the self employed.  See the lined named "Total Income".  This is clearly explained in the I-864 instructions.  It's critical you become an A-Student of that document AND the form itself.

 

[Deang6 2]

Yes sir I will study it further. Thank you.

[Deang6 2]

I thought they might ask for more than just Tax Transcripts since sometimes they request W-2's, 1099's and employer letter for employees. 

[Verrou 1,960]

tax transcript showed u actually filed for tax past years.

so u can choose EITHER  :

IRS tax transcript OR

1040 / 1099 + W2 

 

for current income : u need to show something/anything other than tax transcript ( past income tax) because ur tax transcript is not equal your current income.  who knows there's life changing situation like loosing job, retire, etc etc.  to show current income :  it can be employer verification letter ( if u work for a company), paystubs, retirement verification letter ( if you have income from the retirement)  etc etc.

 

 

 

Edited March 14 by Verrou

[pushbrk 12,806]

1 hour ago, Verrou said:

tax transcript showed u actually filed for tax past years.

so u can choose EITHER  :

IRS tax transcript OR

1040 / 1099 + W2 

 

for current income : u need to show something/anything other than tax transcript ( past income tax) because ur tax transcript is not equal your current income.  who knows there's life changing situation like loosing job, retire, etc etc.  to show current income :  it can be employer verification letter ( if u work for a company), paystubs, retirement verification letter ( if you have income from the retirement)  etc etc.

 

 

 

Kind of, but specifically, it is a "Tax Return Transcript".  (there are at least two other "tax transcripts", and a Complete copy of the federal tax return with 1099/W2.  For many, and for all the self employed, a complete copy of a federal tax return is more than a 1040.  There could be several other "schedules" included.

[Deang6 2]

11 hours ago, Deang6 said:

I thought they might ask for more than just Tax Transcripts since sometimes they request W-2's, 1099's and employer letter for employees. 

I meant to say:

 

For the self-employed I thought they might require more than just a Tax Return Transcript, since for employees they often require additional paystubs, employer letter, W-2's, and 1099's.  For example the self-employed might be required to provide bank statements, letter from accountant, business invoices, etc.