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Parent Combat Pay or Special Combat Pay - financialaid okstate

Parent Combat Pay or Special Combat Pay - 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 2012-2013 FAFSA. It emphasizes the necessity of providing accurate information for federal student aid eligibility and outlines the consequences of submitting false information. The form must be completed in black or blue ink and returned to the OSU Office of Scholarships and Financial Aid.

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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?

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.

What is the financial aid code?

COMPLETING THE FAFSA FORM. A Federal School Code Is always six characters: 0 (zero), G, B, or E followed by a five-digit number. For example, 003223 is the Federal School Code for the University of Oregon.

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).

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.

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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.

Parent Combat Pay or Special Combat Pay - financialaid okstate 2025

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