I remember reading something about not listing retirement accounts and house property information on the FAFSA. But I just checked my FAFSA and I listed ~$5000 for Question 94a. Does that seem correct? I’m 95% sure I did it right (I followed these instructions https://fafsa.ed.gov/fotw1415/help/faadef23.htm– and I listed what was under 12a Code D) , but now I’m doubting myself.
Also, where is Payments to Tax Deferred Pension on the 1040? Because 16a Pensions and annuities is blank on my parent’s 1040s.
The balances in your parent(s) formal retirements accounts including 401ks and IRAs are not included as parental assets on fafsa. That means you don’t include those balances in questions 90 and 91. You are correct in listing the amount from the W-2(s) in Box 12 with code D for question 94a. That’s how much they contributed to the 401k in 2014. Payments to Tax Deferred Pensions don’t appear anywhere on the 1040, only on the W-2s. Line 16a is for when a person starts receiving a pension from an employer. If lines 28 or 32 of the 1040 have an amount entered, you would include those amounts in question 94b.
