Hello. This is my first time posting on CollegeConfidential. Thank you all for your valuable contributions.
I am the sole parent to fill out the FAFSA form due to divorce and because I have been the major financial provider for my daughter. I still own a “joint mutual fund account” with my ex-husband. As his name is the first name on the account, when filing our taxes separately, he reports me as the nominee income receiver every year for 50% of all proceeds.
I am really confused about how to reply to “net worth of parents’ investments”. Must I include the whole amount in that account as if mine to be on the safe side or just 50% of it? Many thanks.
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Calling @kelsmom
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You will report half of the value, since it is jointly owned.