Vgulian. I understand. But the support you might provide from June 2015-June 2016 is irrelevant for this year’s financial aid. That will affect the 2015 and 2016 dependency, not this year.
So…are you saying that you provided more than 1/2 of your son’s support for 2014?
Yes stated in original question and again " we provide more than half of his support now and between 7/1/15 and 6/30/16.
The "now"meant 2014
Thanks for your help
The 2015-2016 academic year FAFSA asks about supported household members for the period 7/1/15 through 6/30/16 (paper question 73). @vgulian is just answering the question based on all known facts at the present time. She could file a correction later and remove son from household if the situation changes. I don’t see a problem.
But @vgulian should consult a tax professional because she may need to file a gift tax return if the amount of support* provided to her adult child who is not a dependent for tax purposes is more than $14k/year (or $28k/year if gift-splitting with spouse).
*food, clothing, rent, medical insurance, etc.
We also are trying to calculate and it can be tricky to determine sometimes, it seems. One of ours is also 23, graduated end of 2013. Worked part-time most of 2014 while job hunting and continuing to share college apartment with student sibling until school was out and they moved out in midsummer. We payed expenses since other child still in school, except utilities. She got a full time job in Sept and living at home at this time to save money for a bit, with our encouragement and because she has to drive so much, so this is basically her home base. It’s almost hard to know what is support. She pays her own bills (insurance, cell but in our names because cheaper, own car payment, student loans starting next month but we paid the first several). She stays on our health insurance which is the same cost for us whether she is or not.
So last year, we certainly paid more than half. But this year, assuming the full time job stays (not at all what she thought and not going well), even if we chose to pay over half and it would technically qualify for FAFSA that way, I think they would question it based on her income alone even if she was banking it all and paying nothing on her own. But I don’t know for sure. I always understood that the question is based on upcoming school year.
As far as taxes, no, she is no longer a dependent because she is not in college and makes way above the income threshold for household dependents.
I understand the confusion. For our student’s FAFSA, I will not be be including our adult graduate, unless I’m missing something major as far as what is considered support.