I-130 was approved but I lost my job

[Mr&Ms.Walsh 1]

Hello all,

 

I am the petitioner and my husband’s I-130 was approved on September 16, 2024. I received the letter from NVC on September 20, 2024 and paid both fees online (Affidavit of Support & IV) on September 23, 2024.
 

I lost my job which was the employment I indicated on my I-130. I am also a real estate investor however I didn't put self employment in the I-130 because I have not been producing a positive Net income since COVID. My business bank account has some savings and I have 2 rental properties remaining since I sold 2 since 2022. I also have a retirement account. I say all this because I am wondering what I should do from here given the info I have provided? Ive been looking for work since August 2024 and no luck yet. 
 

I am aware that the tax documents (transcripts) will show my LLC filing with negative Net income, hence why I never included self employment and only entered W2 salary. 

 

Any suggestions based on what I have presented here? Do I move forward with the NVC Affidavit of Support and present assets or should I hold off a bit and see if I land something soon? Looking forward to your replies.
 

Thanks in advance for any solid remedial advice. 

Edited September 24 by Mr&Ms.Walsh

[Dashinka 24,466]

Sorry about your recent predicament.  Personally, I would be looking for a joint sponsor as a backup unless you can figure out how to manage the I864 on your own.

 

Good Luck!

[pushbrk 12,859]

11 hours ago, Mr&Ms.Walsh said:

Hello all,

 

I am the petitioner and my husband’s I-130 was approved on September 16, 2024. I received the letter from NVC on September 20, 2024 and paid both fees online (Affidavit of Support & IV) on September 23, 2024.
 

I lost my job which was the employment I indicated on my I-130. I am also a real estate investor however I didn't put self employment in the I-130 because I have not been producing a positive Net income since COVID. My business bank account has some savings and I have 2 rental properties remaining since I sold 2 since 2022. I also have a retirement account. I say all this because I am wondering what I should do from here given the info I have provided? Ive been looking for work since August 2024 and no luck yet. 
 

I am aware that the tax documents (transcripts) will show my LLC filing with negative Net income, hence why I never included self employment and only entered W2 salary. 

 

Any suggestions based on what I have presented here? Do I move forward with the NVC Affidavit of Support and present assets or should I hold off a bit and see if I land something soon? Looking forward to your replies.
 

Thanks in advance for any solid remedial advice. 

The I-130 filing asks about employment, but not about salary.  When completing the Affidavit of support, your past income number is the one called "Total Income" on your tax return.  So, if your salary was say, 50k and your real estate/landlord portion lost 20k, your income would be the 30k on the total income line.  It doesn't matter whether you mentioned it on the I-130.  You're dealing with the affidavit of support now.  Start by downloading the form, AND it's instructions, then become an A-Student of both.  If you don't currently qualify, get a new job first, or get a joint sponsor.  Note that liquid assets are defined in the instructions, and that your income "shortfall" will be the required income PLUS the amount of your self employment loss for 2023.

[Mr&Ms.Walsh 1]

3 minutes ago, pushbrk said:

The I-130 filing asks about employment, but not about salary.  When completing the Affidavit of support, your past income number is the one called "Total Income" on your tax return.  So, if your salary was say, 50k and your real estate/landlord portion lost 20k, your income would be the 30k on the total income line.  It doesn't matter whether you mentioned it on the I-130.  You're dealing with the affidavit of support now.  Start by downloading the form, AND it's instructions, then become an A-Student of both.  If you don't currently qualify, get a new job first, or get a joint sponsor.  Note that liquid assets are defined in the instructions, and that your income "shortfall" will be the required income PLUS the amount of your self employment loss for 2023.

I didn’t realize they would deduct the self employment loss from my W2 income. Thank you for this information. I will pull a copy of the Affidavit instructions. 

[pushbrk 12,859]

1 minute ago, Mr&Ms.Walsh said:

I didn’t realize they would deduct the self employment loss from my W2 income. Thank you for this information. I will pull a copy of the Affidavit instructions. 

Your study should bring you to the knowledge that the affidavit of support ASKS for information about the past, but you must qualify in the present tense.  In the present tense, you have no W2 income, because you have no job.  If you get a new job, you have "employment income" even though there's no associated W2 YET.  But,,,,,they must still consider your current income as your employment income minus last years self employment losses, unless you have evidence you are no longer self employed as a landlord.  That would mean evidence you liquidated your rental properties.  Retirement accounts are not considered fully liquid if there would be penalties and taxes deducted upon withdrawal.  They are worth about half the balance, in using assets to replace an income shortfall.

[Mr&Ms.Walsh 1]

10 minutes ago, pushbrk said:

Your study should bring you to the knowledge that the affidavit of support ASKS for information about the past, but you must qualify in the present tense.  In the present tense, you have no W2 income, because you have no job.  If you get a new job, you have "employment income" even though there's no associated W2 YET.  But,,,,,they must still consider your current income as your employment income minus last years self employment losses, unless you have evidence you are no longer self employed as a landlord.  That would mean evidence you liquidated your rental properties.  Retirement accounts are not considered fully liquid if there would be penalties and taxes deducted upon withdrawal.  They are worth about half the balance, in using assets to replace an income shortfall.

I appreciate you! Thanks for being a valuable contributor to this forum.