Business Supplement Form for PROFILE

Paying for College
1

<p>Can anyone WHO OWNS A BUSINESS and routinely completes this schedule give guidance on this form...</p>

<p>It is asking for elaborate book balances/accounting for the beg of 201 and close of 2010---from IRS schedule 1120 1120S etc..</p>

<p>yYt how does this get completed when those IRS schedules and taxes for 2010 are not done yet? How is possible to complete this for Nov 1. These are complex numbers not guess-timates...</p>

<p>And for that matter--how could anyone give an estimate for this form for 2011?? The Fed can't do even do thatwith accuracey! Our business acct had not seen this one before...knew of the FAFSA, yet not this "supplementary form"</p>

2

<p>I had a similar problem with the “rental income” question, fogfog, as our line 17 number can vary by 20K year-over-year. I just guessed and basically used last year’s number for 2010 and 2011. What else can you do? I have no real idea at this point in time, as we have not begun working on the 2010 taxes.</p>

3

<p>This form just wont get done right now–The profiel and supporting docs minus this are “in”…
Strangely, unlike directions for the inital PROFILE asking for estimates for 2010 and 2011, this is asking for very detailed numbers/depreciate, assets etc etc
numbers not estimates…</p>