College Confidential - View Single Post - Completely new to College & Fasta's, etc....

OverRunWithSons · 01-30-2007, 08:20 AM

I also did not understand about OVER-PAYING on your state taxes to help you with all of this--and having that TAXED the next year---highly confused here?? My husband does not even claim all of us on his W-2 (I think that is what it is) so we get more money back from our Taxes each year. We always pay in MORE throughout the year so we get a nice Chunk at Tax time, this year approx $6,000 back from Federal (Additional child tax credit helps us, we do not get unearned income), and $1,200 from State. Will those Big checks have to then be reported as INCOME on these Fasta's or whatever?? Confused.

01-30-2007, 08:20 AM	#9
OverRunWithSons Junior Member Join Date: Jul 2005 Posts: 69	I also did not understand about OVER-PAYING on your state taxes to help you with all of this--and having that TAXED the next year---highly confused here?? My husband does not even claim all of us on his W-2 (I think that is what it is) so we get more money back from our Taxes each year. We always pay in MORE throughout the year so we get a nice Chunk at Tax time, this year approx $6,000 back from Federal (Additional child tax credit helps us, we do not get unearned income), and $1,200 from State. Will those Big checks have to then be reported as INCOME on these Fasta's or whatever?? Confused.
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