<p>Okay, commiserate with me here. Superbowl Sunday and I am not only trying to do my taxes, (then the FASFA and profile), but have my son and daughter do their taxes so they will have info for their portion of the Fafsa and Profile. Too many forms, too little information. Deadlines looming (February 15th), and son's UTMA mutual funds accounts haven't yet sent us the 1099-div or whatever form it is they are supposed to send. I tried to call the IRS (whose website claims that the 1-800 number is staffed 24/7 - but when you call, says that it is only open M-F) because DD's study abroad program was paid directly and does not show up on the form from her college that shows scholarships and grants versus tuition paid - and how do I figure costs for the study abroad when it is one cost for tuition/room/board - not broken out into tuition - room and board? That's only some of the little pieces of information that I am missing. It's just way too many pieces of paper and unresolved questions! It was easier when it was only one kid and me filing things. With two - too hard. I need a marguerita and an accountant!</p>
<p>Does the UTMA mutual fund company have on-line access for your accounts? They may have the 1099s there. I know that Vanguard does.</p>
<p>Yes, they do. But we tried to set him up online access yesterday (never having done that before) and we kept getting an error message -so either the system is down, or I need to wait and talk to a human on Monday. (thanks for the advice - I think I'll try again.) My frustration is that I can't do B until I have information A, and I can't get to C-Z until A and B are cleared up. I don't have a head for all the complexities of higher finance -I like the simplicity of cash in the bank, no debts and a house paid off. Hopefully one day I will be there. Until then.... frustration. I might have to take a day off work to deal with this all!!!!!</p>
<p>I'll sympathize!! We started to do our taxes yesterday...and found a HUGE error on my W-2 form which I'll need to deal with on Monday. Our payroll folks are not the best...they put a much lower amount in my box 12 (TSA contributions). My final pay stub of the year is accurate, my TSA statement is accurate...my W-2 is not...ugh.</p>
<p>Estimate and correct later if it is the only way to meet the deadlines. Don't miss the deadline.
We actually submitted our taxes Feb 1st - my husband will be a lost soul when April 15th arrives and he is not doing his usual down to the wire last minute taxes! I think i may make my kids stay in college for the rest of their lives so I never again have to live through the annual April 15th nightmare.</p>
<p>Agree with swimcatsmom - use last year's tax return for basic #s and extrapolate up or down from the info on this year's W2s. This becomes your basis for your 'by the deadline' FA submissions. When your taxes are complete you can adjust the #s.</p>
<p>I sent the estimated FAFSA on January 6. I just wanted to get the rest done...:(</p>
<p>Yep.. I just estimated here as well. </p>
<p>I can't even file yet as the IRS will not take the Teacher exemptions and Tuition credits that congress added at the last minute electronically yet.</p>
<p>USC wanted everything by Jan 19th. LOL what a croc.</p>
<p>Estimate to make the deadline but submit the final numbers ASAP as some schools aid is time sensitive. Most folks here do not have final (1099, 1098-T or K-1) info and won't by the common Feb. 15 deadline.</p>
<p>Sorry, I have to gloat...Taxes done yesterday, FAFSA correction #1 for first 6 colleges submitted today, corrected copies of Profile to be sent tomorrow. We also have a Feb. 15th deadline for tax returns, but to only one school.</p>
<p>Only 6 numbers needed to be corrected on both FAFSA and Profile.</p>
<p>I guess we're lucky, we have a relatively uncomplicated return so this part was easy.</p>
<p>Definately estimate now...and then correct once you can accurate compute your Federal Tax Returns.</p>
<p>Not only is all my paperwork done, but the tax return is already in my checking account. Online access gave me everything I needed long before the papers arrived in the mail. Perhaps will be more complicated next year when my son already has a year of school, grants, loans, scholarships under his belt and I have to put those #s into the 1040.</p>
<p>Did you say that the IRS will not take the Teacher exemption yet, even electronically? I'm using turbotax... I really don't want to have to do an ammendment and redo my fafsa's etcetera...</p>
<p>Turbo tax has all the updates. When you use the software it will download all of the updates for you. We did it yesterday...everything was there..the phone rebate, the education credit, and the teacher exemption. Now....I do think someone could make a KILLING by merging Turbo Tax with the FAFSA.</p>
<p>Can anyone help me with a relatively straight forward question? Do I need to include Health Insurance premiums and Flexible Spending Account dollars taken out of my check pre-tax in the FAFSA Worksheet B? It seems like I should, but the instructions say not to include "benefits from flexible spending arrangements". I hate to put down more than required, but I do want to answer correctly. I'm going to try and call them tomorrow, but any input would be appreciated.</p>
<p>There was a thread about this a couple of days ago - I think the consensus was not to include the flexible spending account because it is money not available for anything but medical costs.</p>
<p>Oh here it is - is a flexible spending account the same thing as a health saving account?</p>
<p>Thanks SCM! Yes, to confirm for others, I called the FAFSA hot line this morning and they said that NEITHER Health Insurance Premiums or Health care FSA's that are taken out before taxes need to be added in on Worksheet B. Good news!</p>
<p>My husband is pretty happy. Since our daughter is graduating college this year he only has to do the FAFSA for son. She went to a Profile school so last year he was in the same stressed position of quickly doing taxes early, doing the FAFSA for the first time in years AND doing the profile. He's just a little ticked because we can't find our duplicate check register for the first part of the year. It's kind of fun to get the periodic reminders that our daughter is graduating!</p>
<p>Thankfully, my d's school deadlines for all of this are later in April. She is in her second year, so we only have to do all of the FAFSA/Profile (and the school's separate, VERY involved form) stuff one more time AFTER THIS.</p>
<p>:)</p>
<p>My DH wanted to have everything done by now - he's having open heart surgery in the morning and hates to leave this for me to deal with. We submitted an estimated FAFSA and estimated Profile but just don't have all the info yet to finalize. He really wants to submit the taxes tonight but I'm afraid to do that yet - can't be adjusted like the FAFSA. Timing stinks! I see my son received a notice from IDOC today - not sure yet what we have to do with that but it's going to have to wait.</p>