<p>I was filling out the CSS PROFILE questions
17. Is either of the student's parents self-employed? answer: Yes
18. How many businesses, corporations, or partnerships do the student's parent(s) own all or part of? answer: 0</p>
<p>My mom is technically self employed as a real estate agent, but she does not own any businesses, corporations or partnerships.
However, I get this message:
"Your parents reported that they were self-employed, but did not report ownership of all or part of a business or a farm. Please review the responses to Registration questions 17, 18, and 19 and correct if appropriate."</p>
<p>Being a real estate agent is her business. It is a “service business.” Like being a doctor, lawyer or taxidermist with customers who pay fees for services. So the answer to Question 18 is “1.”</p>
<p>Self employment on the CSS Profile is a red flag, as many self-employed individuals can deduct (bury) all, or a portion, of their personal expenses as business deductions – think home office, computer, car etc. If your mom receives multiple 1099 statements, a better, and not untruthful phrase, to use might be “multiple employers.” Please consult with your mom, and her tax advisor, before submitting your CSS profile.</p>
<p>Collegeboard answered me on a similar question over the weekend. They know it’s crunch time, I’m sure they have extra staff on, and hopefully extra hours. They were quick and thorough. I had a self employment question myself - kind of the opposite. I DO have a business, and I’m the only officer & employee. BUT…it is a corporation and I earn a salary and get a W-2. Just in case it helps you any - that is technically NOT self employment. I knew that to be true in a legal sense, but some people tend to THINK it is self employment.</p>
<p>Answer “1” for number of businesses. You’ll then likely be asked to furnish the business supplement asking for details on the business. The only real value that a RE agent will have is whatever is in their checking account.</p>