Tax Adjusted Returns
January 15th, 2009
Question: What is the annual income I should write on the form I-864, Total income or adjusted gross income?
I’m self employed, and, in my tax return my total income is enough to be a sponsor, but after “self employed taxes”, my adjusted gross income falls a little behind the line. They ask to write my adjusted gross income for the last three yeas, I understand that, but I don’t know what to write on line 23 where they ask my “individual annual income”. Any help?
Thanks
Ok, just to be sure, so it’s not adjusted gross income?
Answer: Self-employment taxes are not a reduction from gross income to arrive at AGI. The instructions tell you to show your total earned income or retirement income for the year. That’s what you put down — total earned income, etc. Earned income is income from wages or self-employment. It does not include unearned income such as dividends, interest, capital gains, etc. Total income is always before any taxes, since eveyone’s tax situation is unique.
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