My dad passed away in 2016, and I applied for the 2018-2019 fafsa with the 2016 tax return that my mom filed under. I believe it’s a 1040, with an amended 1040x tax return. I need to make corrections in regards to what I should list for my mom’s income but I’m really confused. Would pensions and annuities count as part of the gross total income? And how would I know whether it’s for my mom or dad’s? Please help!
So sorry for your loss.
You fill out the FAFSA with the status from now, and your mother is single. You would report her income from 2016 and her assets. If your mother received funds from the pensions and annuities, yes they most likely will be income and were reported that way on the tax return. The body of the pensions and annuities might still be assets and not yet income.
If your father had income in 2016 that was included on the joint return, you wouldn’t include that. You can tell what was his and what was hers by the W2 statements. You only want to report her income.
You will not be able to use the DRT for the taxes on the FAFSA. You may be selected for income verification and then your mother would have to order a tax transcript. Ask the school financial aid office for help if you need it.
Your situation is complicated. Make an appointment with the financial aid office, and get the help you need so that this is sorted out correctly. @kelsmom is a financial aid officer. She is likely to have good advice for you too.
Did your parents do the 2016 tax return or did a tax preparer?
W2 or 1099 forms report work or self employment income.
1099R forms report retirement income from IRAs and annuities.
Ask your mom or the tax preparer if they have copies of these forms so you can separate your mom and dad’s 2016 income.
The 1040X will list the numbers from the original tax form and what is different.
You use that form if you forget to report something or need to correct the information on the original tax form.
I agree, make an appointment with the FA office and bring copies of the 1040, 1040X, any W2s, 1099 forms and bank statements.