Hello! My parents are married and file their taxes jointly. When filling out the FAFSA, does anyone know how to submit their combined income properly? Any help or advice would be great! Thanks!
Hey there! When your parents file taxes jointly, the process of submitting their combined income on the FAFSA is pretty straightforward. Here's a step-by-step guide to help you through it:
1. Obtain your parents' most recent tax return: Before you start the FAFSA, make sure you have their joint tax return for the requested tax year (usually the year prior to the academic year).
2. Starting the FAFSA: When you begin the FAFSA, you'll be asked about your parents' marital status. Since they are married, you'll select the 'Married' option.
3. Entering financial information: In the 'Parent Financial Information' section, you'll be asked to provide details about your parents' income. You'll enter the values from their joint tax return in the specified fields. This usually includes adjusted gross income (AGI), federal income tax paid, etc.
4. Review and submit: Double-check that all information has been entered correctly and submit the FAFSA.
It's important to make sure you've entered the correct information to ensure you receive the right amount of financial aid. If you're unsure about any part of the process, feel free to ask your school counselor or visit the FAFSA website for more guidance. Good luck!
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