CSS Business Farm Supplement Help

<p>My parents and I don't understand how to fill out this supplement. They are considered self-employed (I think) because of their occupations (personal business consultant and part time real estate agent...I believe these are the official titles..). They both work under a company name, but own no part of it. They earn their money by commission. So we don't know how we should fill this out. All the questions don't seem to apply, but the colleges still require that we fill it out because they're supposedly self-employed. Help please =[</p>

<p>Do we just fill out our ownership as 0%, and then put the owner of the company = (name of owner), relationship to parent(s) = boss, and percentage of ownership = 100% ??</p>

<p>Any information and help is much appreciated.</p>

<p>If your parents don't own any percentage of the company, then I don't believe they would fill out the business supplement. Are they paid via a 1099? If so, then their 1099 income would be included in their adjusted gross income that's reported on Profile here:</p>

<p>Enter your parents' 2007 adjusted gross income from their 2007 IRS Form 1040, line 37.</p>

<p>Thanks for the response vballmom. Yes, they are paid via a 1099, and I believe we already included the 1099 income in the adjusted gross income on the CSS profile. However, being self-employed, the colleges say they still have to fill it out, as seen, for example, on caltech's financial aid website: "If either of your parents is self-employed or owns a business/farm, you will need to submit the 2009-2010 CSS Business/Farm Supplement." </p>

<p>(From what I've read, "self-employed" include the occupations of consultant, real estate agent, and some other jobs as well. Correct me if I'm wrong though.)</p>

<p>Thanks again for the reply vballmom.
Hopefully someone can shine some light on this matter and clear things up for me before the 14th lol.</p>

<p>Ok, it's odd that CalTech wants the supplement even though your parents are zero percent owners of the business. They would have no way of knowing the assets and liabilities of the business. I'd suggest using the "Remarks" section to state this, and put zeros in lines 6 and 16.</p>

<p>The thing is, it's not only Caltech that wants this supplement even though my parents are 0% owners of the business -- every other school has roughly the same instructions. But I think I'll take your advice, putting zeros where needed and then explaining the situation to them. The fact that the sheet ends up being filled with all zeros makes all this just seem unnecessary and downright unwise (let alone the paper and money that is wasted in sending this supplement to them).</p>

<p>Nonetheless, thank you very much for the help.</p>