CSS Question(including homes?)

Paying for College
1

<p>Estimate your parents’ net income (or loss) from business, farm, rents, royalties, partnerships, estates, trusts, etc. using their 2007 IRS Form 1040, lines 12, 17, and 18 and 2008 financial documents. To enter a loss, use a minus (-) sign. </p>

<p>Hm.im a lil confused. do i add my current home? which is still undergoing mortgage loans,in another words, my parents are still in the process of paying it back to the person who sold this home… and my parents bought it in around the end of 2007,<br>
do i include this?</p>

<p>Thanks…!
:)</p>

2

<p>The value of your home is not part of your parents’ net income, it’s part of their net assets. It is not included in this question on CSS that you’re referring to. There’s a later section that will ask you the value of your parents’ home and how much they owe in total mortgage.</p>