<p>On the Profile it says, "Enter the amount of untaxed income and benefits your parents expect to receive in 2011." Then on the worksheet it says, "Payments to tax-deferred pension and savings plans expected to be made."
Does that include the 401K contribution I made this year?</p>
<p>Also, I received relocation money for my new job this year and the company paid taxes on that as well. It's included in my taxable income. How should I file this on the Profile?</p>
<p>Yes that includes 401k contributions. Tax deferred contributions to retirement accounts are added back to income fore determining financial need (in FAFSA as well).</p>
<p>If the relocation money is already included in your taxes I would not think there is anything additional you need to do, as you will already be reporting it. Or am I misunderstanding something?</p>
<p>Agree it should show up on your W-2 with the taxes shown similar to bonuses, etc. and included in your gross income.</p>
<p>I am still not sure if this is correct since I have already reported this 401k deduction for this question “Estimate the amount of deductible IRA and/or SEP, SIMPLE, or Keogh payments your parents made and will make in 2010 using their 2010 financial documents and 2009 IRS Form 1040, lines 28 and 32.” Since I already reported it here, why do I need to report it again as additional income?</p>
<p>As for the relocation money, it was just a one-time thing. I will not be getting it again in the new year. Is there any special treatment? Should I just comment on it in the additional information section?</p>
<p>Untaxed payments to pensions refers to the amounts on box 12 (not C, but D, etc) … this is not on the 1040 anywhere. Payments to IRA, KEOGH, etc are on the 1040, but are removed from AGI & thus are considered untaxed income, as well.</p>
<p>bump
new question^^</p>