<p>title says it all, i didnt initially list it. should i go back and list it under business net worth? i didnt originally list it becuase he is getting evicted from the building "the building is not structually safe) in about a month.</p>
<p>Will that make all value of the business disappear? Can he move it? Is there inventory? Any retained value?</p>
<p>nope cannot move it and he does his inventory from week to week. its a really small store so there is no real big amount of inventory in it. he is currently looking for another store atm. so what is your guys advice. ive been selected for verification btw</p>
<p>On the FAFSA, you only have to list business net worth for businesses with at least 100 employees. Doesn’t sound like your father’s store fits that description. </p>
<p>See: [FinAid</a> | Financial Aid Applications | Small Business Exclusion](<a href=“http://www.finaid.org/fafsa/smallbusiness.phtml]FinAid”>http://www.finaid.org/fafsa/smallbusiness.phtml)</p>
<p>You still have to report your father’s net income from his business for 2009. The eviction is likely to cause a big loss of income in 2010 – so I would suggest that you write a letter to the financial aid department of your college (or the colleges you are applying to), explaining the circumstances. This is something that might fit into the category of “professional judgment” that might allow some colleges to make special adjustments for you – you are in a somewhat similar position to a kid with a parent who has received notice they are being laid off. There are no guarantees, but there always is a possibility that some colleges may take the factors into consideration. But it would not impact the way you fill out the FAFSA.</p>
<p>You have to report it. Businesses have value. If he moves it, his customers will hopefully follow. You can always file a professional judgment request with schools you are accepted to if he’s out of business when acceptances come in.</p>
<p>I’m assuming you mean for Profile schools.</p>
<p>yea we dont have a 100 people working there lol. he works in it by himself and i already put down his income tax on it. so i dont have to include it is what your saying. im not really worried about it since my estimated efc came out to be 0, but just making sure i didnt mess that part up.</p>
<p>hmom, the OP said he was selected for verification – that only applies to the FAFSA. Given the “works in it by himself” comment, I think its pretty clear that a business asset doesn’t have to be stated on the FAFSA. </p>
<p>(There is no such thing as CSS Profile “verification”, and if s/he has already filed a Profile there is nothing that can be done to change it in any case).</p>
<p>yes im talking about fafsa</p>