<p>It is my understanding that it is not counted as income, but is an asset.In our case, money had been mostly spent on her living and activity expenses. She has turned 18, so it is her asset and that’s what I reported for her. </p>
<p>As I feared, in posts above about child support, ex lost his job today, last day Saturday. The business is downsizing. His industry is downsizing. He is 66 and admits that he is having increasing trouble with sales because of his severe hearing loss. So it is not really likely that he will find another comparable paying job. He may just have to figure out how to live on a meager Social Security and tiny IRA. </p>
<p>I assume I should contact FA at colleges to which daughter has been accepted to tell them about 19,200 loss of income. Any idea what kind of documentation they may want? Since this is informal child support and our state does not have legal separation, I’m just not sure.</p>