<p>I just started filling out my CSS-Profile, and my parents have almost none of the documents that I'm supposed to need. Our bank only gives statements once a year, and it doesn't even include savings (which we have none of anyhow). My dad can get his W-2's and his 2009 tax returns, but he's not filing 2010. I'm just not sure how much documentation I need, and it's stressing me out! Please help me.</p>
<p>Are you applying ED? I think for that you estimate for CSS Profile using last year’s documentation and then correct later. (Others can correct me if I’m wrong.)</p>
<p>But, if your parents know that the numbers will be very different, then be prepared that your estimated aid will not be correct and will get adjusted when the real numbers are submitted.</p>
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<p>Your parents can go into the bank or call them for a current balance. If they do not have a savings there will not be a savings statement for them.</p>
<p>You say your dad is not filing 2010 taxes? Is he required to do so? If so, he must do so. If not, you can indicate that he is not filing on the Profile. HOWEVER, if he has any income the question will be raised…“how can he NOT file?”.</p>
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<p>NO…only use these estimates if they are close to what your actual 2010 numbers will be.</p>
<p>If you are completing the Profile NOW and are using estimates, you should only use 2009 numbers if they are CLOSE to what is anticated on the 2010 tax return. If the numbers are different, you want to estimate the real amount from 2010 as close as possible. You do this by using the most recent pay stubs your parents and you have. These typically have a year to date amount and the current amount. You need to figure out how many more pays there will be until the end of 2010 and add that total amount to the current year to date for both income and taxes. It’s not hard to do.</p>
<p>It is important that you use estimates that are as CLOSE as possible to the real 2010 information. Using the 2009 info ONLY WORKS if the information is very close to what the 2010 info will be.</p>
<p>I have to say…there is something in my little head that says that if your parents are required to file income taxes but do not, this COULD affect your awarding of federally funded need based aid.</p>
<p>Sorry, I don’t know why I typed he wasn’t filing, I meant he hasn’t filed yet. However, I can’t use his 2009 income to estimate, since he was unemployed for nearly a year.
Thank you so much!</p>
<p>If your dad is now employed,use the last pay stub (as I put in the above post). It will have his earnings to date on it. If he is going to get 6 more paychecks in 2010, then multiply his gross income for ONE paycheck by 6 and add that to the year to date gross income on his current check. Do the same for the taxes. That will give you a VERY close estimate of his earnings and taxes for 2010.</p>