What goes in Q89 & Q90 on FAFSA and PI-155 & PI-160 in CSS-Profile

[swimcatsmom]

<p>For FAFSA those questions are only used to calculate allowances for work related expenses such as FICA taxes. The EFC formula uses tables within the formula along with the earned income amounts to calculate things such as FICA (I always wonder why they don’t just ask for the amount of FICA you paid but I guess they have their reasons)</p>

<p>from the instructions for filling out FAFSA</p>

<p>

89. Father’s/stepfather’s income earned from working. Enter your father’s/stepfather’s 2008 income earned from work (wages, salaries, tips). The amount reported here will receive certain income allowances (deductions) from the income for necessary expenses (such as taxes and basic living costs). </p>

<ol>
<li>Mother’s/stepmother’s income earned from working. Enter your
mother’s/stepmother’s 2008 income earned from work (wages, salaries, tips). The amount reported here will receive certain income allowances (deductions) from the income for necessary expenses (such as taxes and basic living costs). </li>
</ol>

<p>If your parents filed (or will file) a 2008 tax return, each should include only his or her share from IRS Form 1040—lines 7 + 12 + 18 + Box 14 of IRS Schedule K-1 (Form 1065); 1040A—line 7; 1040EZ—line 1. Even if your parents filed a joint return, they
should report their earnings separately in Questions 89 and 90. </p>

<p>If your parents filed a tax return using other than an IRS form, such as a foreign or Puerto Rican tax form, they should report on the FAFSA the amounts (converted to U.S. dollars) from the lines of the non-IRS form that correspond most closely to those on the IRS
forms. </p>

<p>If your parents did not file a tax return, they should report their earnings from work in 2008. They can find this information on their W-2 form(s).

</p>