Student's Income from 1099
I am trying to fill out the 2012 FAFSA based on mine and husband's 2010 income tax which is fine. However when it comes to the Student's information I am having a problem. My daughter has never had to file income taxes in the past since she never earned enough money. This year she will probably be receiving a 1099 based on untaxed income she has earned from internet sales. If I check "will file" it then goes on to ask me questions I cannot answer since I have no numbers from last year to estimate from. If I check "will not file" I will then have to go back and fix it changing her income from $785 to $6500 which really doesn't sit very well with me. If I check "will file" and use $6500 I have no way of figuring the rest of the numbers since this would be the first time. Any suggestions on what to do?
** After posting I spoke to someone in the financial aid office of one of the school's she is applying to The answer -- check "will file" and give my best estimate of taxes at $650.
Also, do I have to indicate the money she received from SS Disability (mine) even though it went directly into a custodial 529 account.
Last edited by paulamcl; 01-05-2012 at 12:11 PM.
Reason: additional information