Need help with FAFSA update involving a seperation

Paying for College
1

So my parents are amidst a divorce and my mother moved out from my father in September of 2015 to a new house where I live with her. In February she filed her taxes as Married Filing Single since the divorce wasn’t final on the last day of 2015. Just recently now, on 4/4/16 she filed a 1040x with my father as Married filing Joint because it was more financially beneficial.

My question is when updating my FAFSA how will this affect what I report besides filing status. I have read on other forums I can still just put my mother’s income because I live with her and she provides for me but I was wondering if any other parts will change.

Also since it is a 1040x the tax return has to be mailed in, so it will take a bit to process, when should I update my FAFSA?

If anyone has any experience with this and if it affected/ didn’t affect their financial aid I would be very appreciative.

2

You cannot use the data retrieval tool if you file an amended return. You’ll have to send in a copy. Call the school and see what they want as they’ll most likely want a tax transcript and you’ll have to order that once the amended return is filed.

You are correct that if you live only with mother you’ll answer the FAFSA questions only for her. If, when you answered the FAFSA questions, you also reported assets of your father, you’ll have to make a correction. If you reported only your mother’s income, that amount should be correct, otherwise you might have to break out whose income is whose on the tax return. Don’t be surprised if they want to see your mother’s W2s.