<p>some years back a cousin of mine placed some money in a mutual fund for my son who is not a hs sr applying to college. She is named as the ‘custodian’ of the acct. </p>
<p>My son gets 1098 (or is it 1099?) stmts. the dividend amounts are always less than the tax threshold so he did not file tax returns on this income.</p>
<p>is this mutual fund considered my son’s student asset in the css profile?</p>
<p>Yes. It is his asset for both CSS and for FAFSA.</p>
<p>we are naive to mutual funds. on what basis should the value of this asset be reported to css profile (or fafsa) ? for a bank savings acct, you go to the bank and ask for the statement balance. how do we get this value for css profile (now for an ED app)?</p>
<p>btw, to be clear, son is a hs sr now.</p>
<p>When I was filling out the css profile I got the value of my daughter’s accounts from online websites for the accounts. It involved setting up a user name and password, you won’t be able to do it since you are not the custodian of the account but your son should be able to.</p>