FAFSA - Should I use 2010 tax return

Paying for College
1

<p>So, I'm looking to fill out my FAFSA as soon as possible. However, my mother won't receive her forms for, most likely, another few weeks. Even with that, it might take her a while to fill it out because she's busy. </p>

<p>My question is, should I use the 2010 tax return or wait a few more weeks?</p>

<p>Thanks!</p>

2

<p>The 2012-2013 FAFSA became available for online submission on January 1, 2012. You should do it in keeping with the deadline for the schools to which you are applying. If the school has a January deadline…here’s what you do.</p>

<p>File your FAFSA using a “will file” status which means you WILL file your taxes but have not yet done so. Use the BEST possible estimates based on your end of year pay stubs, interest statements etc. Then submit it to the school(s).</p>

<p>Do your taxes as soon as reasonably possible after Feb 1 when you have all of your 2011 documentation. Go back IN to the FAFSA website and amend your FAFSA to reflect the figures from your 2011 completed tax return and resubmit to the college(s). Change your status to “taxes completed”. </p>

<p>This is the year you want to get your taxes done as soon as possible. It is NOT the year to wait until April 15th to complete your taxes.</p>

3

<p>Fill it using 2010 ASAP. You then send changes if any once 2011 is filed. It takes 2 to 3 weeks for the info to get from fafsa to colleges!</p>

4

<p>thumper1 gave a good detailed explanation…</p>

5

<p>Thanks for the replies! :slight_smile: In the next few days, I’ll fill out my FAFSA with the steps you guys provided. The help is much appreciated.</p>

6

<p>You don’t have to use 2010 numbers. The check stub from end of the year 2011, should have all the W-2 information.</p>

7

<p>Don’t even take the time to figure out numbers from pay stubs or last year’s taxes. Just estimate for now. Once your taxes are finished, go back and put in the correct numbers. That’s what FAFSA tells you to do.</p>

8

<p>Of course if you want your aid package to be as accurate as possible you may want to use numbers that are as close to the final version as you can.</p>