<p>Not sure where to enter $ that we have saved in a 529 for my 14 year old. PA-105A says to 'enter value of your parents' assets held in the names of your siblings under age 19 and not college students'. But then PA-120 includes Section 529 college savings plans. I don't know whether to separate each child's $ and put my 14 year old's 529 $ in PA-105A and my senior's 529 $ in PA-120 or combine them both in PA-120 and leave PA-105A blank. Help please!</p>
<p>Here’s how I understand it (after reading lots of books and website information, but you can always call one of the colleges and ask a Fin Aid officer to be sure):</p>
<p>Question PA-105A refers to UGMA/UTMAs, which are in the child’s name with the parent as the custodian. They want to know the total of all UGMAs for your other children under 19 years old.
Section 529s are usually considered the parents’ asset (with the child as beneficiary), unless you’ve explicitly moved money into the 529 from an UGMA or other child-owned fund (in which case, the child is the owner and the parent is the custodian). If you set the 529s up as parent-owned, you should report all of your Section 529 funds (the college applicant’s 529, as well as the 14-year-old’s 529) as part of the parents’ assets, which is PA-120.</p>
<p>Thanks for the clarification!</p>