My daughter is filing out her first ever FAFSA papers; I understand to include both my husband (step-parent) and my own tax information. What I am confused about, is that since we were recently married we’ve not yet filed taxes together YET ; so how can I estimate the tax portion on the FAFSA paper (where it asks for the amount from previous year tax return) ? Previous year I filed as single (not yet married) and this year I will be filing as joint with my husband (step-parent)? Please help with this confusion.
@kelsmom Can you help this mom?
2016-17 FAFSA will ask for 2015 income and tax return. Did you get married in 2015 or 2016?
If you are planning to file your 2015 taxes as married filing jointly this tax season that is ending on 4/15/16 then I think you would indicate that you are married, put “will file” as tax return status, estimate both spouses’ income from your paystubs or W2 and then update FAFSA after the taxes are done.
https://fafsa.ed.gov/fotw1516/help/faadef23.htm
don’t forget to list in question 94a any 401k contributions. Those will be added to income for FAFSA but are not listed on the tax returns.
we marked her form for ‘married’ and ‘will file’ as ‘joint’; the estimate part we completed using our pay stubs; but there’s a field that is asking for the amount from prior years tax return . . . that would be my taxes (?) since we filed our taxes in 2015 as single. I am confused on how that will be accurate since this year I’ll be filing as married / and joint. . .
I am not sure. I don’t remember a question asking about a previous year tax return. The FAFSA would be talking about only 2015 as far as I know.
The CSS profile asks about previous year (2014), current year (2015) and future earning estimates (2016).
Could you tell us exactly where the question is and what it asks?
Are you sure you are in the 2016/17 FAFSA?
Please allow me to get with my daughter, as she has the form with the opposed question of which I’m questioning. Thank you for responding.
Yes, we are sure we are in 2016/2017 FAFSA since my daughter graduates this year ‘Class of 2016’.I made a mistake in my earlier comment. I meant in 2014 I filed taxes as single . . . 2015 we will file as joint / married.
If you got married in 2015, you must file your taxes this spring married. Problem solved bc 2015 is the year they are asking for. 2016 income is irrelevant for now. I think you may be mixing up the years?
Question on the FAFSA form is listed under ‘Parent Financial Information’ and says: enter the amount of your parents’ income tax for 2015. This amount is found on IRS form 1040-lines (56 minus 46).
That return (2015) has not yet been done, but this is what can be estimated from their year-end pay stub.
That is what is confusing me. We did the estimation portion of the form, right after that the very next question is asking for the amount of your parents’ income tax for 2015. 
Also on the ‘untaxed income’ portion, I put a checkmark by Child support received, are they asking how much child support we receive a month or for the year?
How can I estimate our income tax for 2015 from our paystubs ?
Alright, in 2015 you filed your 2014 year tax return (single). This year in 2016 you will file your 2015 year tax return (married, joint). That’s the one the 2016-17 FAFSA asks about. Since the tax return is not filed yet, you need to estimate income for the 2015 year.
https://fafsa.ed.gov/fotw1617/help/fotw05c.htm
You can try and use online tax software and put your information in and see what they figure for your tax.
For child support they want to know how much total for the year 2015 was received.
Thank you @mommdc ; I don’t know how to estimate what our income tax for 2015 will be; since I’ve not filed joint in many years. The form says for the Form 1040 you take line 56 and minus line 46 - I’ll try to reach out to our CPA for assistance; as I don’t know how to do this myself.
You would not know for sure what the tax will be until the return is filed. It would depend on filing status, number of exemptions, standard or itemized deductions, income, etc.
Yes, maybe your CPA could help.
You can estimate. Pull up a 1040 form online and sketch in the figures. Line 47 is AGI less exemptions and deductions. If you and spouse made $100,000, have 4 personal exemptions ($1600), have about $20,000 in Sched A deductions, your taxable income is $78,400. The tax table will tell you what the tax is on that. You can use very rough numbers.
Or you could just take your taxable income from 2014 and his, and add them together. It won’t be correct, but you are just estimating at this point. After you file and update with the DRT, you will get a new EFC.