<p>The IDOC service requests that students and parents submit tax returns, w-2 forms and 1099 forms in order to help colleges verify financial information. However me living in a foreign country with parents that don't file taxes (and don't have to), don't have jobs and make a living primarily by renting "dwelling units" (which I understand does not require a 1099 form as explained here: <a href="http://homeguides.sfgate.com/apartment-owners-1099-64218.html">http://homeguides.sfgate.com/apartment-owners-1099-64218.html</a>), we have neither tax returns, w-2 forms or 1099 forms. Thus the only form of verification that we can give is a non-tax filers statement. Might this cause the colleges to not want to give me financial aid (even though I clearly need it)? If so, is there any other form of verification that we might submit? How important is verification to colleges? Is it primarily meant to make sure no one is trying to cheat their way out of paying for college or merely to estimate financial need more accurately? Also I do not believe I was selected for federal verification as my EFC did not have an asterisk by it.</p>
<p>Also I am a US citizen in case it is of consequence and I have applied via FAFSA and CSS already.</p>
<p>Are your parents NOT U.S citizens?</p>
<p>Both of them are U.S. citizens.</p>
<p>If you are expatriates, and your parent’s had income from any source, they are required to FILE an IRS tax return. Why area old your parent’s be exempt from filing? Is their income below the threshold for doing so?</p>
<p>Correct, our income is bellow the threshold. </p>
<p>The threshold for married couples filing jointly where one spouse is over 65 is $21,200 (as shown here: <a href=“https://idoc.collegeboard.org/idoc/nontaxfilerstmt.jsp”>Institutional Documentation Service (IDOC)) and we are definitely below this. But I’m not asking to debate the facts but to determine how these facts will affect me in the future.</p>
<p>If you have documentation that this IS your income and assets, and you are not required to file, then yes, do a non-filers form. If you are honest,mand are reporting all income and assets on your financial aid application forms, AND you can document this, that will be fine.</p>
<p>I’m not “debating the facts”. Just saying, you could be asked to provide documentation of the information on your financial aid application forms.</p>
<p>Hmm, so what kind of documentation do you think would suffice? Currently we don’t do much documentation on our rental income, so do you have any idea what kind of documentation might work?</p>
<p>By the way, thanks for helping.</p>
<p>Yes as thumper says, I believe if you can document your parents financials (income, assets, etc.) you would not be considered any differently than any other student. Just be sure to submit whatever is asked for. If you are not able to use the data retrieval tool to verify your FAFSA because there is no income tax form to verify against, you may need to send documentation for that also, you just keep everything handy and wait to hear from the colleges. For example if they own the rentals they rent those will have an asset valuation, documenting the rent received etc. would also need documentation. You’ll be fine, just make sure to send what is asked for. </p>
<p>Your parents could be asked to provide documentation of the rent they are receiving as well as some documentation of the value of the rental properties. since your income is very low, they could also be asked how they are able to pay their bills with such a low income. </p>
<p>Einsbert…some folks are dishonest. The colleges need to know that the actual rental income IS less than $21,000 per year. You can SAY anything you want, but be prepared to PROVE it.</p>
<p>You are hoping these colleges will give you substantial need based aid, correct? Don’t you think it is prudent of them to document that your financial situation IS what you say it is? </p>
<p>Do your parents issue receipts to their renters? Do they have monthly bank deposits they make? </p>
<p>If they were to sell the rental properties NOW, what would they net from that sale? </p>
<p>Please understand, these schools are doing THEIR due diligence in asking for documentation. It is not an unreasonable request.</p>
<p>Thank you, and one more question: should we try and include as much documentation as possible in the IDOC package or just wait until the colleges contact us about it? </p>
<p>The IDOC email you got should have given you very specific information about what to send. Send that.</p>
<p>If you have a question, why not contact EACH college and ask them. They might be able to give you a better answer than I am giving you here!</p>
<p>I’m thinking it would be the SCHOOLS directly that would request additional information.</p>