Hello, I filed my FAFSA earlier this month but I now need to make corrections because my parents filed their 2014 taxes. On the FAFSA application it asks me to enter the amount of my parents’ income tax for 2014 which is found on the IRS Form 1040-line 56. The problem is that line 56 is blank on my parents’ IRS Form 1040 and I am not sure if I just fill in a zero or leave it blank.
Any help is appreciated and thank you.
Was your fafsa selected for verification? The best way to update the 2014 income and tax info is to use the IRS Data Retrieval Tool on the fafsa site. Since your parents filed taxes this early, it’s likely to be available to you to use in about 2 weeks if they e-filed. The return needs to be processed by the IRS before the tool will work and the IRS won’t start processing returns until Saturday. If your fafsa was selected for verification, using the tool will satisfy part of the verification process. You’re original fafsa filing date still keeps your place in line for aid.
To answer your direct question though, line 56 of the 1040 shouldn’t be blank, it should be a number or be 0.