Fafsa question...please answer...

Question

i'm working on my fafsa and here's the gyst of it:

*my parents are divorced and i live with my dad

*I worked this past year and what not

*my dad did not claim me on his tax thing whatever

*he didn't file a tax thing (idk what he's thinking!)

*i could have filed but i only worked about 5 mo and make roughly 3300-so my stepdad said i didn't need to (he asked someone blah blah blah)

*i filed for my fafsa last year when my dad DID file his taxes and that was easy

* since he didn't do that this year i'm having a hard time figuring out all the numbers!

sooo: 1) is there any way to figure the numbers out 2) am i even eligible for the fafsa since he didn't file 3)any other advice/questions would really help !

thanks

Answer 1

If I were you I'd ask a college counsler or someone, just to be safe and to make sure its done right. Or you could try searching around on the fafsa website more.

Answer 2

Okay -

As you fill out the form, you will see the option to select "will file" when it comes to providing tax information. If you select that option, that sticks you with 2 responsibilities.

One is that you (or more likely he) will have to use the IRS tax worksheets to accurately estimate his taxes. You can work from his W-2 statements and start working through whatever deductions he might have. I'm assuming, since he's procrastinated so long with his return, that his tax situation is complex, and he's probably a guy who itemizes deductions. That'll make the estimating more complicated, but it's still do-able.

Second is that you are required to go back and update your FAFSA when he actually does file his tax return for last year.

Next ...

Your father's decision to claim you as a dependent (or not) has nothing to do with how you'll complete the FAFSA. People confuse the concept of the financial aid "dependency" status with the usual dictionary definition of the word - but that's not what dependency is about. There are government rules that define the term dependent for financial aid purposes, and you are dependent unless you are over 23, or married, or providing the financial support for kids or other dependents, or an orphan, or a current or former member of the military.

Dependency has nothing to do with whether he claims you on his tax return, or gives you money, or whether you have your own job, or live on your own, or if he's going to help pay for school, or whether you ever know where he lives. That may relate to the dictionary definition of dependency, but not to the "dependency" used for federal financial aid purposes.

As far as your taxes - if you earned less than about $8500 last year, then yes, your dad's information was correct - you do not need to file an income tax return. Actually, you probably SHOULD file an income tax return, because any taxes that were withheld from your pay check would probably all be refunded to you, so you're probably making the government a free donation of money that you could have had returned. However - if you did not file, again, there's a box to check on the FAFSA form that says "Didn't file". Check it, then follow the directions - you'll have to tell them about your income - all you'll need is YOUR W-2 form.

So yes - you are completely "eligible" to file a FAFSA, but you will need to estimate all of the numbers - and update those estimates when the final return(s) are filed. Think about going back and filing for yourself, so you can get a refund you can use to help pay for school!

Good luck - I hope that helped.