<p>Filling out FAFSA </p>
<p>My mom did tax on turbo tax and you can view the form after you do it and for parent income tax (question 87) which on line 56 of form 1040 it says 0. I dont know anything about taxes but $0 dosent sound right. I thought if we put 0 in it means she didn't pay any income taxes. Anyways, she makes ~60k a year and pays her taxes so is this right....? My mom is not sure either but she says it might be because she paid her taxes but got the amount back or something im not sure....</p>
<p>Also i should put will file irs since my mom just did them on turbo tax right?</p>
<p>There is a difference between taxes withheld during the year and the amount paid on your income tax. Some people are fortunate and receive 100% of their withholdings back when they complete their tax return, which does result in a 0 for the taxes paid line. As long as you are looking at the correct line that FAFSA is asking for, then 0 would be correct.</p>
<p>Doing them on turbo tax is the same as filing, because she would have either e-filed through the turbo tax program (which means the IRS already has the return) or printed them out and mailed them.</p>
<p>Hi timmytanks.</p>
<p>I agree with you, something doesn't sound right. If your mom makes about 60K a year, it is unlikely that she doesn't owe any taxes. She may have already paid what she owes, through withholding throughout the year, and she may have a refund coming back to her because she had too much withheld. But it is unlikely that she doesn't owe any taxes at all for the year. Possible, but unlikely.</p>
<p>Perhaps she didn't quite do them properly on Turbo Tax? I'm no longer sure exactly what Question 87 is on the FAFSA. Is it "Parents' 2008 U.S. Income Taxes Paid?" If so, it should be whatever is on line 56 of the 1040 (as you pointed out). If your mom's taxes have 0 on line 56, she may need to take a closer look at her work, considering her income. Your mom may not have actually PAID any taxes YET -- but the intent of FAFSA question is: "What is your mom's obligation for income taxes for 2008?", whether she's actually paid them yet or not.</p>
<p>I disagree with the last sentence of NikkiiL's reply. Doing them on turbo tax is not quite the same thing as filing. It is possible to do the taxes on Turbo Tax, and even print out a copy of what you just did -- without filing. So, if you mom did not actually click the button to send her taxes to the IRS electronically OR print her taxes out and then mail them to the IRS, she did not yet file -- and, yes, you should put "will file" on your FAFSA. If she either electronically sent them or sent them through the mail already, then you should put "already filed," or whatever that option is that means the same thing. She doesn't have to have actually PAID the money yet -- there is a Turbo Tax option for filing but withholding the actual taxes due until April 15 -- she just has to have submitted the paperwork showing what she intends to pay (i.e. what she owes) -- and then, as long as she's submitted the paperwork either electronically or via snail mail, you put "already filed." </p>
<p>I hope this helps.</p>
<p>Line 56 of the 2008 1040 is not the total tax. Line 61 is total tax. if you are putting the amount from line 56 (if it is a 1040) onto FAFSA then you are not reporting the correct figure.</p>
<p>Well on the FAFSA question 87 it asks for amount of parents' income tax and it says that income take is on irs form 1040 line 56</p>
<p>The FAFSA worksheet does say line 56 for income tax. </p>
<p>In regards to Simple's opinion that 0 couldn't be correct, Simple is wrong. If someone with a 60k gross, there could be sufficient deductions and non-refundable credits to reduce the total tax to 0...I've seen it happen plenty of times in the 10+ years that I have done taxes professionally. When one takes into consideration the possible deductions that can be taken prior to calculating the taxable income, the standard or itemized deduction, personal exemptions, non-refundable credits, someone making @60k could get 100% of their withholdings back.</p>
<p>In a way, line 56 IS your total "income" tax. The other taxes between line 56 and line 61 are based on other than your earned income. Apparently they're looking for the taxes your mom paid on her income on question 87 of the FAFSA -- line 56 is the correct figure to report.</p>
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Line 56 of the 2008 1040 is not the total tax. Line 61 is total tax. if you are putting the amount from line 56 (if it is a 1040) onto FAFSA then you are not reporting the correct figure.
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Sorry - you are right - I was wrong. I looked at the total tax figure (I'm in the middle of doing taxes) and thought that was what should be reported. Posts #5, 6, 7 are correct. it s/b line 56 a s requested on FAFSA.</p>
<p>To clarify, NikkiiL, I didn't say that timmytank's mom's line 56 couldn't be 0. I specifically said it WAS possible, just unlikely. I think he has a reason to ask the question, in other words, and should look carefully to verify that 0 is correct.</p>