<p>On Parents Worksheet of FAFSA, do I include Roth IRA contributions made in 2007? I don't see them anywhere on my 1040, but we did make maximum contributions for each parent. Thanks. The FAFSA is not as straightforward as I'd hoped.</p>
<p>No, I don’t believe you’d include Roth IRA contributions on the parent’s worksheet. That’s for tax deferred payments, and Roth IRA contributions come from income that’s already taxed (and therefore included in your AGI, reported elsewhere).</p>
<p>Regular IRA contributions get reported on the worksheet, and added back into income. That’s why IRA contributions during the college years may decrease your AGI, but they won’t decrease your EFC.</p>