<p>I am trying to qualify to an Automatic Zero EFC on my FAFSA next year. Well I have sold stock that I own this year and want to know if that rules me out. Do I have to file a 1040 instead of a 1040a or 1040ez now because that is the "sale of property" or do they only qualify "property" as real estate?</p>
<p>Basically, does selling stock this year disqualify me from the automatic zero EFC?</p>
<p>Thank you in advance.</p>
<p>Because you sold stock, you must report the sale on Schedule D. You must file that with a 1040</p>
<p>First, are you a dependent student/parent? Assuming you are, the stock sale disqualifies you from filing a 1040a/ez, but may not disqualify you from meeting the Auto 0 EFC criteria if you/parent are a dislocated worker OR if anyone in the household qualified for one of the federal mean-tested benefits (ie reduced lunch/TANF/food stamps) AND your AGI is $30K or less.</p>
<p>Are you an independent student? If so do you have dependents other than a spouse? An independent student without dependents other than a spouse is not eligible for the auto 0 EFC.</p>
<p>If you are dependent or independent with dependents other than a spouse then, as sk8ter said, you must meet the income cut off (<$30k AGI) and one of the other criteria - eligibility to file a 1040A or 1040ez, (which you do not have if you sold stock), dislocated worker, means tested benefits.</p>