Two of the schools my son has applied to require complete 2014 tax returns (including schedules etc.) to be submitted by March 1. we are still waiting on two 1099 investment documents (the both of which will probably not equal $1000 in investment income.) Any ideas of best way to handle this? Thanks for any advise you might have.
And FWIW, think I would feel better about this cumbersome financial aid process if we even knew he was going to get accepted to either of the schools. (UGHH)
Can you access the investment accounts online? They might have a form you can download from there.
If not call them and have them fax you/email you the form with the soc sec blacked out except for last 4 digits.
They should have sent these out by the end of February.
Maybe also call the schools and tell them you are still waiting for some tax documents and will submit info asap when you are able.
Sorry, they should have been sent out by January 31
I have contacted the one I can (with no response yet) and sent an email to the schools’ finaid office asking advice (with no response from them either). If I don’t hear back soon, I am contemplating submitting it without these and then resending an amended return later. I just don’t want to miss the date. Surely this has to happen on a regular basis to schools who have such early deadlines.
Not all 1099 forms have the same due date to the recipient.
@MiddKid86, I apologize if what I said was incorrect, I was not aware that some 1099 forms can be sent later.
Here is a link with some info on what to do if you miss 1099 form
http://www.bankrate.com/finance/money-guides/you-can-file-your-return-without-1099-forms.aspx
No need to apologize; nobody said the tax rules were easy to figure out. The most common 1099 forms have a February 2 mailing deadline this year, but certain other 1099 forms (1099-B, 1099-S and some 1099-MISC) have a February 17 mailing deadline.
Well I appreciate you mentioning it, I had no idea.
I thought I was being cautious by waiting until Feb 4 to do our taxes, good thing we didn’t have any of those forms.
One of the schools did advise me to hold off another week or so and then if we still haven’t received, to go ahead and file without it and submit it later. I did ask about loss of financial aid consideration if we submitted late and they said he would receive full consideration, but that we might not get the financial award letter till mid April or later. That’s what you want to hear, right?
@momother - That’s what I’ve heard too. I’m still working on our taxes as well. Just send a few more facts and figures to my accountant today. The March 2nd “deadline” is looming. But, it seems to be more of a “target” date. I called a couple of schools and they said to send ASAP. For the schools with a lot of money to give, it’s not likely that they will run out. But, the award letter may be a bit later than we’d hoped. My D’s list of schools is mostly schools with lots of $ to give. For the ones that don’t we’ve been lucky enough to do EA and rolling (State Schools). They just used the FAFSA (estimating 2014 taxes) and award letters have already arrived. 
Good luck. This is SO stressful!
My D’s NCP is waiting on one form as well and I told him to go ahead and file without it then amend if necessary. It’s not an amount that will change an FA package much.
And if your son is admitted to either of these schools, @momother, how does he make a decision by May 1 if he hasn’t received his financial aid awards by that date?
If financial aid is a critical factor in choosing a college, then you need to get your tax return filed now, and amend it later. If you can estimate the missing investment income, then do so. But if you can’t, file anyway.
Thanks. I think you are right. It’s less than 1% of the income and it seems nuts to wait for such a minimal variation. I I need to get this show on the road…