Clarifying first tax year to report for FAFSA and if student needs to appear as dependent on taxes

[Seelowe]

@twoinanddone

It does not matter for FAFSA purposes if she is a dependent for tax purposes.

It DOES matter for taking the tax credits (AOTC or LLC). You won’t take those until you actually pay tuition, so you can make that decision later. Once she’s over 17, it is a $500 credit and not the more generous Child credit. You might want to warn ex that this is his last year to get her as a dependent.

Thanks! That’s good to know. I will warn my ex that 2020 is the last year he can claim the child credit. He probably already knows it, but just in case, I don’t want him to get in trouble.

@Erin_s_Dad

A corollary comment for you: The parental income that goes into FAFSA is the one the child lives with the most.

She lives with me the most. So that helps too. We were supposed to have joint custody and 50/50 time, but he moved far from her school district to live in the city so the reality now is she just sees him every other weekend and half the summer.