<p>Since I am applying Early Decision, the deadline for the FAFSA and CSS profile is February 5. However, my mother will not be able to complete her tax return before then. Therefore, is using estimated amounts permitted to complete the FAFSA and CSS profile? </p>
<p>Thank you</p>
<p>Yes. Using estimated numbers is fine. The more accurate they are, the more reliable your financial aid estimate will be. After your mom has done her taxes you can update those estimates with the final numbers, and then you’ll get a finalized FA award.</p>
<p>^How exactly do you update the estimates? Just send the 2010 tax returns to the school?</p>
<p>When you’re filing the FAFSA with estimated numbers, you have to select the filing status of “Will File” — meaning you haven’t yet, but you are going to. (Unless a person will not be filing at all, in which case there’s an option of “Will Not File.”)</p>
<p>After taxes are completed, then you can log back into the FAFSA to make corrections and update the estimate numbers. Remember, you only update numbers from your tax return. You don’t update asset information that you entered the first time – those are only reported as they stand at the time of the initial filing of the FAFSA.</p>
<p>You change the filing status to “Completed” to indicate these are your finalized numbers, and resend the FAFSA.</p>
<p>For the Profile, you should call the schools and ask. There is no way to update it online and have it sent automatically. Some schools may want you to send them a paper copy of the Profile with the incorrect figures crossed out and the correct one written in by hand. Other schools will tell you not to bother, that they’ll do the corrections when they get your tax documents from you or IDOC or they get your FAFSA info or something else. Just call them and ask.</p>
<p>If you file electronically, you will be able to go back into the FAFSA a couple weeks after filing & link to the IRS to have them put the completed tax return info directly into the correct questions on your FAFSA. I think when you change “will file” to “already filed” it will give you a prompt asking you if you want to link to the IRS website for a direct transfer.</p>