<p>My parents haven't filed their taxes yet, and I, for the first time ever, will have to also file taxes this year. </p>
<p>After a bit of googling, it appears that the general consensus for FAFSA in this case is "estimate everything, then change later". Exactly how much can be changed? Do we have to manually do it ourselves, or does it automatically update once we file in our tax returns?</p>
<p>As for the CSS, I'm very confused. Since we haven't filed our tax returns yet, should we estimate like on the FAFSA, or do something else?</p>
<p>On the registration, there is a question that asks "what type of tax return have/will you file" and I have no idea what to put for that at all. I know my parents have to file a 1040, but what sort of tax form would I need to fill? The internet keeps mentioning some sort of "W-2" form, but since I stopped working at the end of December, I haven't gotten anything yet.</p>
<p>Your assets must be accurate the day of filing and will not be changed. Your tax numbers can be updated. I use round numbers, like 1000, 100, 10,000 for the estimates, that way when I go back i can see they are just that, estimates.</p>
<p>You should get a W2 in a few weeks, by law they must be mailed by the end of January</p>
<ol>
<li><p>Yes…you can complete your FAFSA using GOOD estimates for your 2010 income and taxes. You will complete the FAFSA indicating “will file” as your status, meaning you will file taxes but have not yet done so. You then submit this estimated FAFSA (the student and ONE parent need a PIN to sign this for online submission). Do your taxes ASAP after Feb 1 and then you go and amend the FAFSA online. You will only change the fields that have information from your 2010 tax return. Change those to reflect the accurate numbers, change your status to “taxes completed” and resubmit online. </p></li>
<li><p>You can also file your Profile online using estimates. Again…use the best possible estimates. The Profile cannot be amended online. You need to call the college(s) to see how to make changes to the Profile. Check your school deadlines…if the Profile isn’t due until Feb 10 or 15, you might just want to complete your tax returns first and then submit the Profile. If the deadline is sooner, do estimates.</p></li>
<li><p>Your parents and you will need to complete some kind of tax return…a 1040, 1040A or 1040EZ. Your parents should know what they will need to do, so ask them. If you, the student, worked part time, and earned a small income, AND don’t have large dividends or interest income, you probably can do a 1040EZ. Again…ask your parents. They will have an idea. They have done tax returns in the past.</p></li>
<li><p>Your W-2 forms will come from your employer(s). You are supposed to receive them by the end of January. They will be statements of your income, deductions, and taxes withheld. You will get yours before the end of Jan if you were a regular employee. Did you fill out a withholding form with your employer that included your SS number and the like? If so, just be patient. If you don’t receive your W-2 forms by the first week in Feb, contact the employer.</p></li>
</ol>