Income Question For CSS Profile

Paying for College
1

<p>In the 2012-2013 CSS Profile, it asks my parents:</p>

<p>Enter your parents' net income (or loss) from business, farm, rents, royalties, partnerships, estates, trusts, etc. as reported on their 2012 IRS Form 1040, lines 12, 17, and 18. To enter a loss, use a minus (-) sign. (Code PI-120A) </p>

<p>and then later on the sheet it asks my parents:</p>

<p>Enter the income parent 1 earned from work in 2012 from his or her 2012 W-2 form(s) Box 5. If Box 5 is blank, or he or she did not receive a W-2, use IRS Form 1040, lines 7, 12, and 18 and IRS Schedule K-1 (Form 1065), Box 14 (Code A). If lines 12 or 18 or box 14 are negative, treat them as zero. If your parents filed a joint return, enter only parent 1's portion of lines 7, 12, and 18 and K-1, box 14. (Parent 1 is the parent you entered in PD-105.) (PI-155A)</p>

<p>So if my mother is self employed and all of the so called business income that is filed under her tax form is from her working as a self employees, does that mean that I have to put the amount of income received on both lines? I don't want to put the income on both lines if I don't need too, because I don't want colleges to add together both incomes on both lines, you know?</p>

<p>Thanks for your help!</p>

2

<p>If she only has income from self employment, none from wages, then I read that as only put it in the first one, because self employed people don’t get W2s, employees do.</p>

<p>If she happens to have both SE income and wages from work, then put both.</p>