<p>I'm correcting my FAFSA, and am trying to figure out what to put in "How much did you earn from working (wages, salaries, tips, etc.) in 2010?" spot. I work from home and run my own business, and file as self employed. What would i put here? How would it be different from my AGI?</p>
<p>In my tax return, the "income earned from wages, salaries, etc." is 0.</p>
<p>If you are self-employed, make sure you put in “net receipts” not “gross receipts.”</p>
<p>I am self-employed, my income is on line 12 of our 1040: </p>
<p>Business Income or (Loss) Attach Schedule C or C-EZ.</p>
<p>SLUMOM- Yes, I used a schedule C and net receipts. I’m just wondering if I put in a “0” for earned income, or something else. Because I know this calculates how much money I have based on taxes paid, as self-employment tax is different, thus the AGI is not an accurate indicator.</p>
<p>Just looked at both FAFSA’s for my kids, #87, my self-employed income (Net) went there.
Mother’s/Stepmother, income earned from work. </p>
<p>I have been doing these for years, you would think I would remember!</p>
<p>Oh, sorry, I’m the one going to school and filling out my FAFSA (grad school), and not supported by my parents.</p>
<p>Line 38 Student’s 2010 Income Earned from work.</p>
<p>Income earned from work is line 7 + line 12 + line 18 + box 14 [code A] of Schedule K-1 (Form 1065). If line 12 or line 18 or box 14 are negative, they are treated as 0 for purposes of reporting income from work. </p>
<p>The only number used to report taxes paid is line 55.</p>
<p>Remember these things & it’s not so difficult! :)</p>