Dad makes no income. Tax Information?

Paying for College
21

<p>My EFC is like 1000, but I’m a senior in high school. My father is in his 60s so he probably won’t be working.
I’m trying to get my Fin Aid done versus later</p>

22

<p>For next fall, you have to file the 2014-2015 FAFSA which is not available until january 1st 2014 and will require 2013 tax information. The current FAFSA does not count for the 2014-2015 school year.</p>

23

<p>The formula is now available, so you can print it out and take a look at it if you want to:
<a href=“http://ifap.ed.gov/efcformulaguide/attachments/091913EFCFormulaGuide1415.pdf[/url]”>http://ifap.ed.gov/efcformulaguide/attachments/091913EFCFormulaGuide1415.pdf&lt;/a&gt;&lt;/p&gt;

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<p>Thank you. So for CSS Profile, how should go about explaining this siuation? Just file a self filers form and be done?</p>

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<p>I’m doing some early programs and I need to get this done now versus later.</p>

<p>Thank you for all the helpful replies!</p>

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<p>There is NOTHING to explain to CSS or FAFSA.</p>

<p>You’ll be filing NEXT year using 2013 info. For those taxes, your mom will have to file as Married. She’ll include your dad as a dependent. Your EFC will likely drop.</p>

<p>The way your mom filed this last year is irrelevant.</p>

<p>Your dad is in his 60s…when will he start collecting social security? or is he already doing so?</p>

27

<p>

A spouse is not included as dependent on the tax return when the couple file as married filing jointly.</p>

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<p>^^^</p>

<p>Right…I didn’t mean it that way literally. I shouldn’t have worded it that way.</p>

<p>What I meant is that the EFC should go down because before as HOH, it was one adult + kids. Now it will be two adults + kids in the family. That is if the only income in the family is the mom’s income.</p>

<p>I was just trying to make the point that if the income is the same, the formula will be more favorable with another adult in the household.</p>

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<p>the student should talk to mom about how she’ll file next year. If she files as Married Filing Separately, that won’t make much sense unless the dad has an income and will be doing so likewise. </p>

<p>If the dad has NO income from anywhere, then it would seem (to me) that financially it’s best to file Married Filing Jointly, so that two adults plus kid(s) are figured into the formula.</p>