In 2021 we received income from W-2, business income and additional income. They have my taxes filed from IRS but in the box for parent wages do we only put wages, tips, etc and not the business income and additional income? It does look like Adjusted Gross Income is self populated through IRS, just want to be sure I fill this out correctly, thank you!
Follow the directions for the question: https://studentaid.gov/sites/default/files/2022-23-fafsa.pdf. Look at the directions above questions 86 & 87.
I just completed our FAFSA. What a beating. I had to separate out the w2 income between me and my husband. It’s combined on our irs form 1040 line 1 wages- since we file jointly. FAFSA wants each parents income reported separately. So I referred to our w2’s to figure out how much was his and how much was mine. Then I had to add my business income from schedule 1, line 3 (business income) to my w2 income to get my total income. And then reporting investments, savings, etc in the next section.
If you think the Fafsa is a pain, try the CSS.
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I’m so nervous to do something incorrectly. They don’t make it easy
If you think the Fafsa is a pain, try the CSS.
Amen to that comment!
apropos of nothing, I click on that studentaid.gov link and omg, the state-specific dates in the right-hand column are mostly wrong - most are 2022 deadlines. That doesn’t instill a lot of confidence.
Well…the last place I would look for school specific deadlines is studentaid.gov.
But thanks for pointing this out. Everyone should find deadlines on each college website…they vary wildly so check each college to which you are applying! And if applying early, also check for priority deadlines for financial aid application submissions.
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