FAFSA Question - Will File, Filed, and parents' exemptions?

Paying for College
1

<p>I think I'm on the last page for FAFSA - but my parents haven't filed their 1040 yet. The application asks for my parents' exemptions which is said to be found:

[quote]
Enter your parents' exemptions for 2009.</p>

<p>If your parents filed a:</p>

<p>1040 enter the number from line 6d.</p>

<p>1040A enter the number from line 6d.</p>

<p>1040EZ and did not check either box on line 5, enter 01 if they are single or 02 if they are married.</p>

<p>1040EZ and checked either the “you” or “spouse” box on line 5, use line F on the EZ worksheet to determine the number of exemptions ($3,650 equals one exemption).</p>

<p>Note: The line numbers above are from the IRS tax form, not from the W-2 form.

[/quote]
</p>

<p>If my parents didn't file yet, what should I put in? Do I need to wait until they file?</p>

2

<p>Who will they claim as exemptions? Put that number. For instance if they claim themselves and you that is 2 personal exemptions (mom and dad) and one dependent exemption (you) - so that is 3 exemptions. If there are also other kids being claimed as exemptions then they should be listed also. SO if they claimed themselves and 2 kids it would be 4, and so on. They should know.</p>

<p>You can always correct it later.</p>

3

<p>Okay, thank you!</p>

<p>I don’t think FAFSA will let me submit it until my parents file. They ask for my parents’ income tax and we don’t have that information yet.</p>

4

<p>If you put “will file” you can estimate the income tax numbers (and income) and correct them later. Try and estimate as accurately as possible.</p>

<p>Assets should not be estimated. They should be accurate as of the day you file.</p>

5

<p>You can use their last paystubs from 2009 to estimate. Look at the “year to date” gross pay. When all your W-2s, 1099s, etc come in the actual number on their tax form might be a litttle different than your estimate, but you can go back onto FAFSA and do the corrections once they’ve filed their taxes.</p>

6

<p>My parents just found their Form W-2 Wage and Tax Statement. Can I use the Federal Income Tax Withheld numbers for the Parents’ Income Tax information FAFSA requires?</p>

<p>Thank you everyone, so much! First time filling out FAFSA and my parents and I don’t really understand all this stuff.</p>

7

<p>If only Dad worked in 2009 you can get the income tax question from line 2 of the w2. If both mom and dad worked add line 2 from both w2s. All the rest of the rest of the responses are great.</p>

8

<p>Thanks. :]</p>

<p>My parents filed now. FAFSA says to “If your parents filed: IRS Form 1040A – Enter Amount From Line: 35”</p>

<p>When I look at Line 35, it says 0. Should I put that? Or stay with what line 2 of w-2 said (add for both parents to get the total)?</p>

9

<p>Make sure the form they filed is a 1040A, then follow the directions and enter the amount from Line 35. The amount on the W-2 is just what the employer withheld, your parents may have gotten a refund of that money.</p>