As far as I know child support, which is untaxed income, is reportable on the FAFSA. Then why should spousal support (taxed or untaxed) be any different?
If it’s taxable, it will be listed on the tax return, if non taxable, then it still has to be reported under untaxed income in FAFSA.
I don’t know about CSS profile.
You can bet that if it must be included on FAFSA that it will also be included on the CSS Profile.
For,the Profile…I would wager you need to include this in the untaxed income section. There is a spot on the Profile to explain things that are not included on the form. You can put an explanation of this extra money there.
But the school might not care…at all.
If this is a one time pay out that occurred in 2015, then contact the financial aid offices. You can ask how,to file a special circumstances consideration there. These are handled on a case by case basis. Some schools don’t do them at all. Anyway…contact the schools…see what they require for this. Maybe they will consider this…and maybe they won’t.
But really…you have the money. Is there some reason why some of it can’t be used for college costs?
First thing is that the IRS rules are based on wanting to collect tax from at least one party while the CSS is about funds you can use to pay college costs.
I am also trying to figure out how $ received from ex-spouse is reported on the CSS form. I receive $ from my ex and it is not tax deductible because it’s not court-ordered (long story). Guess I’ll need to contact the financial aid office to figure out how I need to report the $.
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