<p>I'm sorry if this has already been answered, but my mom is confused about the fafsa and I told her I'd ask about it on here. I don't really understand how all this works.</p>
<p>My mom started to fill out the fafsa yesterday, but she said that it asks for all your tax information from 2010, which she won't have until April. So do you just put 2009 info and then change it later?</p>
<p>No, that isn’t a good idea at all unless none of your income or deductions changed from that year. What is better is to figure closely how much income your family made (usually found in pay check statements so use the last one in December to see how much was paid, how much withheld, etc). Then fo the same thing for any mutual fund statements, interest statements, etc. Do the same thing for any source of income you receive throughout the year whether it is from a job, a bank account, child support, etc.</p>
<p>I’d also advise telling your mom that she shouldn’t wait until April to do her taxes this year. Some schools require you to submit 2010 tax returns to them earlier than April 15.</p>
<p>Your mom should not wait until April to do her taxes. Check on the deadlines for your school(s) - at my daughter’s school all FAFSA forms plus signed copies of income tax forms filed for 2010 must be submitted by March 1. Some school deadlines are even earlier!</p>
<p>You can file immediately with your best estimate for 2010, but it is important to get taxes done and all paperwork finalized on time. Missing a deadline can mean missing out on a lot of money.</p>