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FAFSA / Tax Form Questions

VinnyMVinnyM Registered User Posts: 47 Junior Member
Where on Form 1040 and/or 1040A can I find the answer to Question 44d: Student’s College Grant and Scholarship Aid Reported to the IRS as Income. (How much taxable college grant or scholarship aid did you report to IRS as income?)?
Thanks!
VM

Post edited by MaineLonghorn on
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Replies to: FAFSA / Tax Form Questions

  • twoinanddonetwoinanddone Registered User Posts: 21,828 Senior Member
    It is on the income line (line 7? on 1040; line 1 on 1040A?) It would be just to the left of the total income and usually appears in ( ) as 'Income............(Sch. $xxx)...$1000.


    Did you have scholarships or grants used for room and board or other non QEE items? (tuition, most fees, books paid for with scholarships do not need to be reported).
  • VinnyMVinnyM Registered User Posts: 47 Junior Member

    Come to think of it, I did not file a tax return for 2017 since I had no earned income and no typical unearned income; such as, capital gains, dividends, interest, etc.

    If I had reported my college grant and scholarship aid to the IRS as income, (1) who would have reported those amounts to me, and (2) how?

    Thanks!

    VM

  • VinnyMVinnyM Registered User Posts: 47 Junior Member


    Did your parents file a 2017 income tax return and which tax form was used?

    My parents filed a 1040 last April, but are planning to file a 1040X/1040A in the next few days.

    How should I answer:

    Parents Filed 2017 Income Tax Return?

    Parents’ Type of 2017 Tax Form Used?

    Thanks!

    VM

  • VinnyMVinnyM Registered User Posts: 47 Junior Member


    Where on my parents' 2017 1040 would I find the answer to Question 93d...

    How much taxable college grant or scholarship aid did your parents report to the IRS as Income?

    Thanks!

    VM

  • allyphoeallyphoe Registered User Posts: 2,327 Senior Member
    None, unless your parents themselves were in college.
  • CaMom13CaMom13 Registered User Posts: 1,695 Senior Member
    If you were a full-time student paying tuition or living expenses out of your grants and the grants weren't specifically taxable nothing is reportable. This question really is asking did you have any taxable grants not did you have any grants.
  • VinnyMVinnyM Registered User Posts: 47 Junior Member

    How would my college report what grants were taxable, in whole or in part?
  • thumper1thumper1 Registered User Posts: 76,029 Senior Member
    You would get a 1098T from the college that would state your scholarship award.
  • VinnyMVinnyM Registered User Posts: 47 Junior Member
  • thumper1thumper1 Registered User Posts: 76,029 Senior Member
    Your FAFSA questions are based on what your parents did for the 2017 tax year....not for the future.

    So...you put YES, and 1040....if that is what they did in 2017.
  • VinnyMVinnyM Registered User Posts: 47 Junior Member
  • VinnyMVinnyM Registered User Posts: 47 Junior Member
  • VinnyMVinnyM Registered User Posts: 47 Junior Member


    I do not mean to be funny, but would your advice change if they filed the amended 2017 tax return (1040X/1040A versus 1040) today?

  • VinnyMVinnyM Registered User Posts: 47 Junior Member


    @thumper1

    I do not mean to be funny, but would your advice change if they filed the amended 2017 tax return (1040X/1040A versus 1040) today?

    VM

  • thumper1thumper1 Registered User Posts: 76,029 Senior Member
    If your parents are amending their 2017 tax return...you need to put what they are actually filing for 2017. Frankly, until this is done...you should just wait unless you have a deadline you must meet. Fact is...they are amending their tax return, but you don’t really KNOW what they will end up doing for the 2017 tax year.

    In addition, if they are amending the tax form, it should be because there is an error on the original 2017 submission. If that is the case, how would you complete your FAFSA anyway? You don’t have accurate 2017 tax year information...yet.

    And lastly, if they amend their 2017 tax return, you will NOT be able to use the IRS Dta Retrieval Tool when completing your FAFSA....so...they will need to order a tax transcript because your school will probably require this.

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