This must be an extremely basic question, but I haven’t found the answer. The CSS Profile says, "Enter the amounts [the student’s] parents received or expect to receive in 2022" for “income from work.” The only explanatory/help text is: “Include wages, salaries, tips, and commissions.” if I’m going to estimate how much I will have earned by the end of this year, do I use the gross amount (my salary), my take-home amount, or something else?
Thanks for any definitive answers. Bonus if you point me to the source of an answer, because I’d love to know of a useful source for CSS Profile help/explanations!
I think this will be Box 1 of your W2. You can look at your 2021 W2 to get an idea. Box 1 will be gross wages minus 401K. Hopefully, this helps.
Thanks
Box 1 - but any income earned that didn’t result in a W-2 must also be added in (e.g., income below the amount at which a company is obligated to issue a W-2). Any other amounts from work such as tips & bonuses have to be reported, too - not sure if those are in box 1, TBH.
Just want to make sure my question was clear: I’m asking about 2022 income, for applications that are due before the end of 2022, so we don’t have W-2s for the year yet. But it sounds like I should estimate based on the 2021 Box 1s, yes?