Questions about FAFSA and PROFILE - what year income will be used

Paying for College
1

So daughter will start her college in fall 2019. Trying to understand the way financial situation as what Federal Fiscal year income will be used to fill FAFSA and PROFILE data?

College Year FAFSA Schools Profile School
2019-2020 2017 income 2018 income
2020-2021 2018 income 2019 income
2021-2022 2019 income 2020 income
2022-2023 2020 income 2021 income

Am I right or wrong? Thanks for your help in making me figure this out.

2

You are wrong.

2019-2020 will use 2017 income.

2020-2021 will use 2018 income.

2021-2022 will use 2019 income.

2022-2023 will use 2020 income.

All of these are the January 1 to December 31 TAX year…not the fiscal year July to July.

So for 2019-2020 it is the 2017 tax year info…NOTHING from 2018.

It’s prior prior year…for both the FAFSA and Profile.

Assets are reported as of the date you file the forms.

3

thanks a lot @thumper1