Income Trouble!

Paying for College
1

I need to report income for the Questbridge College Prep Scholarship.

My dad has yet to file his 2014 tax return ( I assume you file your tax return of 2014 in the next year to represent full income throughout the year ie. you file your 2014 tax return in 2015). I would just use 2013 tax return but he lost his job, got a new one, and now makes less than half of what he used to.

How should I go about reporting his income? Should I just estimate what it will be?

I could try and obtain his W2 form, but does he not have this until he files his taxes for the year or does he get it when he first got his job? Sorry, I know nothing about taxes…

What should I do?

2

Involve your father in this. The W-2 which reports wages may be the bulk of his income. By law, W-2’s must be mailed out by a certain date each year (something like the end of January- certainly before the middle of February). It is a statement of all wages paid to the worker for the year. You can estimate from 2013 taxes plus any W-2s and 1099s. Meet the deadlines, even if you have to estimate!

3

Thank you very much.