For a family-based sponsorship, can real estate be used for the financial sponsor’s tax documentation?
I need to prepare tax documents for the financial sponsorship required to petition for my parents’ green cards, but my tax filing history hasn’t been well maintained.
In this situation, I’d like to know if I can use the fact that I own real estate as part of the financial sponsorship.
As a general rule, financial sponsorship should be based primarily on your bank account balance.
Owning real estate will appear in your tax records, so it can serve as supplementary support.
If the property generates income for you, that would also result in a growing account balance, which would help support your financial documentation.