FAFSA & tax filing

NewEnglandMother
Wed, 26 Jan 2011 19:25:19 +0000

FAFSA requires the custodial parent to file their income etc. on the FAFSA. The parent the child lives with >50% of the time is the custodial parent. The IRS is different - either parent may claim the child as a dependent - many divorced families “share” the dependent deduction by each parent claiming one child or rotating the deduction annually - the IRS claim of dependency is different and separate from the FAFSA custodial parent determination.