<p>Hi I am filling out the FAFSA for my eldest son. </p>
<p>We have 3 small (<$1,000) savings accounts for each of my kids which are in my name in trust for (ITF) each of them.</p>
<p>We also have 3 small (< $2,000) brokerage accounts) for each of my kids which are UGMMA accounts (their social security number, not mine is on them)</p>
<p>How do I report each of these on the FAFSA?</p>
<p>For the UGMA accounts you do not report the siblings accounts at all. The account for eldest son is reported as his asset on FAFSA.</p>
<p>Does the interest on the ITF accounts come on your SSN or theirs? If it is in yours then I think they are all reported as parent assets. If it is in theirs then same as for the UGMAs. Not exactly positive on that one as our kids savings accounts were always in their names.</p>
<p>Well, the income on all the accounts I mentioned is so small that we do not receive a 1099. Do I have to claim it?</p>
<p>Also, I misspoke before I referred to them as ITF accounts, they are in my name "as custodian for "each of them.</p>