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Do I report 1098-T on FAFSA?

For the FAFSA form question on taxable college grants and scholarships, you report only college grant and scholarship amounts reported to the IRS as income. You should not use the amount listed on your 1098-T; you should report the amount listed on your tax return.

What tax forms are needed for FAFSA 2023?

In 2022-2023, you will use 2020 tax information to complete the FAFSA. Only report the student and parent(s) 2020 federal tax information on the FAFSA.

What tax return do I need for FAFSA 2023 24?

Your Federal Income Tax Return On the 202324 FAFSA form, you (and your parents, if you are a dependent student) will report your 2021 income.

How do I report financial aid on my taxes?

If you use your financial aid, specifically your grants, scholarships and federal student loans, on qualified education expenses, you dont need to report it as income to the IRS. The IRS doesnt get a 1099 or W-2 for your financial aid money. However, you should report any money you make from a work-study position.

Which parents taxes do I use for FAFSA?

If your parents are living and legally married to each other, answer the questions about both of them. If your parents are living together and are not married, answer the questions about both of them. If your parent is widowed or was never married, answer the questions about that parent.

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Do you need both parents tax returns for FAFSA?

If your parents are not married, separated, divorced, or widowed, you are only required to report one parents financial information on the FAFSA.

Which tax returns do I need for FAFSA?

Your Federal Income Tax Return Therefore, you should have your 2021 tax return and 2021 IRS W-2 available for reference.

Which parent tax forms are required for FAFSA?

Information youll need to fill out the FAFSA: Your federal income tax returns, W-2s, and other records of money earned. Your parents income tax returns, W-2 forms and 1040 forms if youre a dependent. Bank statements and records of investments (if applicable). Records of untaxed income (if applicable).

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