filing taxes remarried parent

<p>I have a question in reference to tax filing for a remarried parent. My step daughter is filing for financial aid. She lives with her dad who is currently single and has claimed her for the past few years after she moved in with him. I am now married to her mother. Her dad wants us to claim her on taxes this year and for us to file married but separate on our taxes(thinking it will help her). We have filing married jointly for the past 2 years since we been married. Does it help with financial aid if we file married but separate? I have been doing some reading and it sounds like my income no matter what way we file will be considered.</p>

<p>For FAFSA only her dad’s income and assets will be considered. If she’s applying for financial aid to colleges that also require the CSS Profile, then they’ll likely ask for financial information from her dad, plus you and her mom. It won’t matter how you and your wife file your taxes.</p>

<p>Not all schools that use the CSS Profile ask for non-custodial parent (& step-parent) info, but many do.</p>

<p>It also isn’t relevant, for financial aid purposes, who claims her as a dependent on their tax return.</p>

<p>No. Filing married but separate won’t make any difference at all to financial aid.</p>

<p>For FAFSA it is the parent (and spouse) the student lives with who must be reported. As she lives with her dad, it is her dad who must be reported. If she lived with her Mom it would be her Mom and you that would have to be reported. Would not matter how you file your taxes, you would still have to be included on FAFSA.</p>

<p>And, as 'rent said, for FA it does not matter who claims her for taxes. For FAFSA it is who she lives with most that matters.</p>

<p>my wife has custody, but the child lives with father now, how does that work as far as who’s income is taken into consideration?</p>

<p>It is who the child lives with the most. The FAFSA instructions are quite clear.

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