I am a citizen but my parents are both foreigners.
So at a financial workshop at my school the advisors told me to fill out FAFSA as “didn’t file taxes” and put everything as 0. They also said to only include assets here at the US.
But I remembered pretty clearly that on CSS profile they asked you for the foreign assets as well, so does it mean that I have to make my CSS profile match with the FAFSA and not listen to whatever the advisors said?
(By the way we own some foreign real estates which would correlate to a lot in USD, but because of the skyrocketing exchange rate and the poor economy that we couldn’t even sell the house those assets are basically bubbles, is there any place I could include this information on the form?)
Another question: So I have been working and filed taxes for 2017 as independent (it was not a lot of money and I did not have to pay any state or federal income tax), and I couldn’t find my tax return on the IRS tool, would that be a big problem?
Sorry the question is too messy because I couldn’t really understand the whole process either, any suggestions would help!
They also said to only include assets here at the US.<<<<<<<<<
You filled out the fafsa, and signed it. This they told me stuff won't wash. Assets are assets. You parents don't pay taxes anywhere? Do they live in the USA?
You cannot fudge CSS to match. You need to fill them both in correctly, where are your adults in this process?
“as independent” what does this mean?
“everything as 0” …your parents don’t earn any money?
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You should be clear you may never get FA with large assets and an incorrect fafsa. As you see, the CSS is much more probing.
You include ALL assets on both the FAFSA and the Profile…as well as ALL income. It doesn’t matter if it’s located on the moon…it all gets included.
The person who told you to only put U.S.held assets on your FAFSA was WRONG.
So…you put ALL assets from everywhere on both forms. You put ALL income from 2017 on both forms. ALL.
If you are not living in those other pieces of foreign real estate, they need to be listed on your FAFSA and on the Profile as other real estate, and will be treated as assets.
Are you saying you couldn’t link the DRT for your taxes with the FAFSA? If that is the case…I’d be ordering a tax transcript ASAP so you have it. In addition, check your return to make sure the name, SS number etc. match what you think it should be.
He can’t use the DRT if his parent doesn’t have a SSN and if they didn’t file they can’t use the DRT.
For the DRT for you, did you use the correct filing status when you were looking? Did you put in the exact address? Sometimes using W. instead of West is enough to screw it up.