FAFSA IRS retrieval tool situation

Paying for College
1

<p>Still waiting for a K-1, supposed to come within a week.
D’s school has a March 15 deadline for FAFSA, their own application, tax returns.</p>

<p>Being new to the IRS Retrieval tool, but not to financial aid applications, this has thrown me off.
Will this scenario work?</p>

<p>Do FAFSA now with no K-1 form, select taxes not completed
K-1 Form arrives, do TAX ACT online for tax return, get notice they are processed.
Go into FAFSA, say taxes are completed, make correction, and use IRS Retrieval Tool.</p>

<p>I do not want to get into the situation where I file our taxes and then have to amend with a 1040-X just because of this K-1 form.</p>

2

<p>That’s what I would do. Last year I thought the IRS retrieval tool was optional so I entered all my information by hand and submitted it, then some months later - like 6 or more, the school contacted my daughter and asked her to update her FAFSA. For us all that was needed was to implement the retrieval tool and all was good. So that’s just my experience with it.</p>

3

<p>You can get around the IRS retrieval tool on FAFSA by saying you just recently filed your taxes. It will then let you enter your income and tax amount directly.</p>