When I was young, my father purchased stock in a company in my name (under my Social Security number). That stock now has a fairly significant value. We are getting ready for our son to go to college, and wondering if this stock is reportable on the FAFSA as an asset of the parent. Seems like it would be.
Why wouldn’t it be? Does it generate income? I think the value of the stock and any income that comes from it has to be reported.
Why would you think it’s NOT to be reported?