<p>I am filling out the Fafsa and I do not have my w2 yet. Is there a certain way to estimate your Income? I got a raise so should I just add it to my last year’s salary? Not really sure.</p>
<p>If the raise was numerical, you can add it to the gross salary from last year and then calculate how much more the social security/medicare taxes would be to calculate your take-home pay.</p>
<p>Also look through bank statements or paystubs and add together to get your take-home pay.</p>
<p>Your last paystub of the year should show your gross income for the year.</p>
<p>Just give it your best guess. It’s only an estimate until you change it after your taxes are done.</p>
<p>Your last pay stub will give a good idea as to what your job actually paid you in 2012. It’s actual income given to you, not your annual pay as on paper for your job. So if you got a raise, only the part of it that you actually received in 2012 counts. If you were being paid at $24K a year for half the year, for example, and got a raise mid year to $30K, you would tkae the $12K you actuallly received for the first half and the $15K you got for the second half of the year for a total income of $27K. it’s even more exacting than that as it is based on the exact figures your received, so that last paycheck stub should be the best indication. If you had other jobs as well, get the last stub from them. Estimate the rest. Corrections will be made when your actual tax return is filed so be aware that this is not the year to procrastinate filing taxes. You won’t get your money until you file the return.</p>