<p>So I recently submitted a FAFSA and I got the results as 00000 EFC. However, I made a small mistake and listed the IRS form we use as 1040A when it actually is just a regular 1040. When I made the changes to 1040 and put down "are you eligable for a 1040A or 1040EZ" as "Don't know", the results came out to be 00092 EFC. So, I'm pretty sure my family can only use the 1040 so i think i should have put down a no instead of a "Don't know." Does that make a difference at all? Also, does my EFC results make a difference since one is 00000 and one is 00092. I don't know why there was fluctuation when it was the exact same numbers beside the minor change in the IRS form. Thanks!</p>
<p>Does $92 make a difference? No, but what’s really curious is that your family’s at a 0 contribution level and you’re filing a 1040. That doesn’t sound right, someone is making some money somewhere requiring a 1040?</p>
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See [Student</a> Eligible to File a 1040A or 1040EZ?](<a href=“http://www.fafsa.ed.gov/fotw1314/help/faahelp19.htm]Student”>http://www.fafsa.ed.gov/fotw1314/help/faahelp19.htm)
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You get less Pell grant but same Direct loans; and depending on school, you might not get other federal grants or other federal loans.</p>
<p>I’m not quite sure but I was told that it was the 1040 for sure. Should i make another correction to FAFSA because of the “eligibility for other forms” question? Does it make a difference in how many times I correct the FAFSA i submitted? </p>
<p>Sorry for all the questions.</p>
<p>For a modest or low income family itemizing deductions because they exceed the standard deduction, maybe large medical expenses for example, is still possible. Or having itemized last year and having a state tax refund to declare as income this year. If there is business or self employment that could be a reason, even if the income from same is modest or low.</p>
<p>Have you asked your parents why they have to file a 1040? You should find out one way or the other if they have to or just choose to.</p>
<p>Also, the question is about the 2012 tax year. So if they filed a 1040 for 2011, but can file a 1040A for 2012, put down 1040A.</p>
<p>It doesn’t matter how many times you update fafsa, but don’t update it when just guessing, get the true answer first.</p>
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The FAFSA is asking if your parent or you can file 1040A/1040EZ or not. If your parent or you are
The answer should be yes even though your parent or you filed 1040.</p>
<p>Yes, the type of tax return you file does make a difference. There are 2 “special” situations within the EFC formula that are based on being below certain income cut offs and also meeting at least of several possible criteria. One of the criteria is being eligible to file a 1040A or EZ. The special situation you probably fell under when you put that you were filing a 1040A was the automatic 0 EFC. The automatic 0 EFC formula ignores everything other than whether the parent AGI is below a certain amount and just gives an EFC of 0. Everything else is ignores - assets, untaxed income, student income and assets etc. If you meet the income criteria but not at least one of the others, all the data is taken into account and run through the EFC formula to produce the EFC. (the other special formula ignores just assets and has a higher income cut off)</p>
<p>The difference between a 0 EFC and a 92 will make a small difference in pell eligibility (about $50). It may also make a difference at some schools for some other limited funding programs - it completely depends on their own policies. For instance, some schools require a 0 EFC to qualify for certain campus based programs with very limited funding such as SEOG. Both my kids’ school required a 0 EFC for SEOG. A 0 EFC for them meant a possible $2000 SEOG for my daughter (if they had any SEOG funds left). A 92 meant $0 SEOG In my son’s case it made a difference of $200 only. It will vary by school.</p>
<p>Eligibility to file a 1040A or not is not solely related to income. There are a whole list of things that can make someone ineligible to file a 1040A, some of them quite obscure. We got caught by one of them one year and it still bugs me! (we had itemized the previous year but were not itemizing that year. We had had a very small State tax refund and because we had itemized the previous year we had to file a 1040)</p>
<p>What you need to do is look at the 2012 1040 and the 2012 1040A. If everything that is on your parents’ 1040 COULD HAVE BEEN put on a 1040A, then they “could have” filed a 1040A. $92 makes a difference … Pell is more, and some schools only give SEOG to 0 EFC students.</p>