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What determines 365 days rule

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  • What determines 365 days rule

    My employer would sponsor me for a green card. I have some year and a half left till 6th year would pass on H1B.

    What step will actually be used as official GC application start i.e. how could I know if I would be eligible for the 1 year extension?

    I also found that different information in regards to I-140. Does it have to be approved before 6th year or not for the employer/me file for the 1 year extension?
    The plan is to file I-140 and I-485 in parallel, but not sure if premium processing for I-140 is needed? Here I am afraid what if for some reason I-140 gets denied (still under 6th year). Will that terminate my H1B visa or these two are independent?

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