Go Back  British Expats > Living & Moving Abroad > USA > Marriage Based Visas
Reload this Page >

Converting GBP to USD on I-864

Converting GBP to USD on I-864

Old Aug 31st 2022, 11:00 pm
  #1  
Forum Regular
Thread Starter
 
Joined: Nov 2020
Posts: 43
epiphanyuk is an unknown quantity at this point
Default Converting GBP to USD on I-864

Hello all. I will be adding my (applicant) income to the affidavit to make up the minimum as it will continue from the same source. All of my income is initially received in USD, which is then converted to GBP and obviously GBP is on my tax returns. So there are two options that I can see...

1) Use the dollar amount I initially received at the source before it was converted to GBP.

2) Convert the GBP on my tax returns to USD. If I did this, which exchange rate would I use for each year? The rate is vastly different today than when I earned my 21-22 and 20-21 income.

For example, if I made 40k GBP last tax year and converted that based on today's rate, the figure would be 46k USD. Whereas if I used the rate around filing time in January it would be 54k USD.

I know it's probably not a huge deal since both are over the minimum required, I just want to make sure I use what the USCIS would use to determine the exchange rate of historical income.

Last edited by epiphanyuk; Aug 31st 2022 at 11:02 pm.
epiphanyuk is offline  
Old Sep 1st 2022, 1:27 pm
  #2  
Forum Regular
 
Joined: Mar 2022
Location: New York
Posts: 125
porkedpie has a reputation beyond reputeporkedpie has a reputation beyond reputeporkedpie has a reputation beyond reputeporkedpie has a reputation beyond reputeporkedpie has a reputation beyond reputeporkedpie has a reputation beyond reputeporkedpie has a reputation beyond reputeporkedpie has a reputation beyond reputeporkedpie has a reputation beyond reputeporkedpie has a reputation beyond reputeporkedpie has a reputation beyond repute
Default Re: Converting GBP to USD on I-864

I think following the IRS rules would be the most prudent https://www.irs.gov/individuals/inte...exchange-rates
porkedpie is offline  
Old Sep 1st 2022, 2:13 pm
  #3  
Forum Regular
Thread Starter
 
Joined: Nov 2020
Posts: 43
epiphanyuk is an unknown quantity at this point
Default Re: Converting GBP to USD on I-864

Thank you! Very helpful.
epiphanyuk is offline  
Old Sep 2nd 2022, 2:19 am
  #4  
BE Commentator
 
S Folinsky's Avatar
 
Joined: Feb 2010
Location: Los Angeles, California
Posts: 8,384
S Folinsky has a reputation beyond reputeS Folinsky has a reputation beyond reputeS Folinsky has a reputation beyond reputeS Folinsky has a reputation beyond reputeS Folinsky has a reputation beyond reputeS Folinsky has a reputation beyond reputeS Folinsky has a reputation beyond reputeS Folinsky has a reputation beyond reputeS Folinsky has a reputation beyond reputeS Folinsky has a reputation beyond reputeS Folinsky has a reputation beyond repute
Default Re: Converting GBP to USD on I-864

I find your question quite puzzling. Are you talking about the U.S. I-864 affidavit of support? You state you have a source of income denominated in U.S. Dollars. The source of income in U.S. Dollars will continue in the U.S. What is there to convert?
S Folinsky is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.