<p>Anyone here with experience on this?</p>
<p>We live and work abroad. I file US IRS 1040 for my income only. Husband and I file joint foreign tax return with both incomes. I am US citizen. How do I report income on FAFSA?</p>
<p>Anyone got a clue? Thanks!</p>
<p>I file the 1040 and the 2555ez. I also file foreign taxes. Your AGI will be 0 if you don't exceed the allotment for US citizens abroad. Are you married to a foreign national? If so, I would contact the financial aid office and ask how to navigate the process. I am single, US citizen and have always filled out the 1040 and the 2555ez so the process was reasonably simple. Well, kind of.....</p>
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I file the 1040 and the 2555ez. I also file foreign taxes. Your AGI will be 0 if you don't exceed the allotment for US citizens abroad.
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<p>Overseas, I am afraid that the foreign income exclusion from Form 2555 is recaptured by an amount that should flow through Line 79 on your FAFSA. Please take a look at </p>
<p>Worksheet B: Enter total for the following:
a) Payments to tax-deferred pension and savings plans (paid directly or withheld from earnings). Amounts reported on the W-2 form in boxes 12a through 12d, codes D, E, F, G, H, and S
b) IRA deductions and payments to self-employed SEP, SIMPLE, Keogh, and other qualified plans from IRS Form 1040 - Total of lines 25 + 32; or 1040A Line 17
c) Child support received for all children. Don't include foster care or adoption payments
d) tax exempted interest income from IRS Form 1040 Line 8B or 1040A Line 8B
e) Foreign income exclusions from IRS Form 2555 Line 43 or 2555EZ Line 18
f) Untaxed portions of IRS distributions from IRS Form 1040 Lines 15a minus 15b (15a - 15b) or 1040A Lines 11a minus 11b (11a - 11b). Exclude rollovers. If negative, enter 0.
g) Untaxed portions of pensions from IRS Form 1040 Lines 16a minus 16b (16a - 16b) or 1040A Lines 12a minus 12b (12a - 12b). Exclude rollovers. If negative, enter 0
h) Credit for federal tax on special fuels
i) Housing, food, and other living expenses paid to members of the military, clergy, and others (including cash payments and cash value of benefits);
j) Veteran's non-education benefits such as Disability, Death Pension, or Dependency and Indemnity Compensation (DIC), and/or VA Educational Work-Study allowances
k) Any other untaxed income or benefits not reported elsewhere, such as Workman's Compensation, untaxed portions of Railroad Retirement benefits, Black Lung benefits, Disability, etc. Don't include student aid, Workforce Investment Act educational benefits, or benefits from flexible spending arrangements (e.g. cafeteria plans)
l) Money received or paid on your behalf (e.g. bills) not reported elsewhere on this form.</p>
<p>overseas, xiggi, thanks! </p>
<p>But my problem is: if I use the figures from my 1040--then husband's income is not included at all--he is a "non-resident alien with no income from US sources."
If I use the foreign tax return, then I have to guess about what corresponds to what line of the 1040 since the categories are all different. I'm not trying to hide any income--just to fill out the form "correctly."</p>
<p>Boy do I know. This site has a recommendation from one college on how to handle the process. </p>
<p>That is why I think you need to contact the FA offices of the schools where you have sent applications.</p>
<p>I am sure there are many people in your situation--dual citizen parents.</p>
<p>That helps! Thanks again, overseas.</p>