<p>Hey everyone, my parents and I are filling out the FAFSA, but I'm am a little confused on question 80. I don't know anything about tax forms, and my parents know very little English, and I would be very grateful if someone could clear things up for me. The question says that the number I should put into the form can be found on 1040A - line 35, when I look at my parents' form 1040A from 2005, that line states "total credit." I know it states it right there and I should probably just put down the number without questioning the difference of terms so much, but I am very worried that I might be filling it out wrong.</p>
<p>The 2006 1040A is different from the 2005 1040A. 2005 line 35 was credits. 2006 line 35 is tax. You need to make sure you are working from the correct form - which if you are doing 2007/2008 FAFSA is the 2006 tax form. If you are using the 2005 you are filling FAFSA out wrong. So you are right to follow your instincts and question the difference in terms.</p>
<p>So should I wait until my parents file their 2006 taxes before I finish my FAFSA?</p>
<p>no finish your fasfa, CLOSELY estimate until you can get final numbers. Then you can make adjustments. My accountant finishes my taxes every August, I do the FASFA a couple of days ago and will make any slight changes later.</p>
<p>You need to file FAFSA by your schools priority deadline (feb 1 in our case). Can your parents get their taxes completed by then? If not can they estimate their 2006 taxes? Then you can go back and correct them when they are filed. You can google 1040a and find online copies of 1040a - just make sure it is the 2006 version as google will find several versions. If you parents will not file their taxes before the priority deadline DO NOT WAIT to file FAFSA. Aid is often awarded on a first come first serve basis and you run the risk of no funds being available if you miss the deadline. Best esimate then correct it later.</p>