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Parent Combat Pay or Special Combat Pay - Scholarships and - financialaid okstate

Parent Combat Pay or Special Combat Pay - Scholarships and - financialaid okstate 2025

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The document is a form for Oklahoma State University (OSU) that requires parents to report taxable combat pay or special combat pay for the 2013-2014 FAFSA. It emphasizes the need for accurate information to determine federal student aid eligibility and outlines the certification process, including potential penalties for providing false information. The form must be completed and returned to the OSU Office of Scholarships and Financial Aid.

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How do I know if I have combat pay?

Combat pay is indicated by code Q on Form W-2, box 12. Review LLT for understanding of when pay is excludable, but you will not need to make decisions about what is excludable. Excludable payment must be earned or accrued (not necessarily received) during a month the Armed Forces member served in a combat zone.

Why do I have combat pay on my W-2?

Nontaxable combat pay is the military pay that you received while you were deployed to a combat zone. This pay is not taxable and is automatically excluded from your taxable income when you enter your W-2.

What is combat pay FAFSA?

Defining Combat Pay Combat pay is a bonus paid to military service personnel who are serving in regions that are designated hazard zones. The additional pay is generally not subject to federal income tax although Social Security and Medicare taxes are deducted.

What do I put for combat pay on FAFSA?

Combat pay, although excluded from gross income, is still considered during the need analysis for federal student aid purposes. It is reported as untaxed income on Worksheet B of the FAFSA. It should also be included in the earned income figures reported on the FAFSA.

What is combat pay or special combat pay?

What Is Combat Pay? Combat pay is a tax-exempt monthly stipend paid to all active members of the U.S. armed services who are serving in designated hazardous zones. It is paid in addition to the persons base pay.

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Should I include my combat pay in my income?

More Tax Guides While you dont have to report your nontaxable pay as a member of the Armed Forces, nontaxable combat pay can count towards earned income for the Earned Income Tax Credit (EITC or EIC).

Parent Combat Pay or Special Combat Pay - Scholarships and - financialaid okstate 2025

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