<p>Can someone clarify…</p>
<p>If you sell your home in June 2011 and take the $50k profit and put it towards the new home bought in July 2011, then what do you put on FAFSA when you file in February 2012?</p>
<p>Are you claiming that you had a $50k profit? The money isn’t in saving when you file, it was moved from one escrow acct to another to pay for the new home. Is the $50k counted as income? That doesn’t seem right.</p>
<p>I know that you won’t count the $50k as an asset since it’s not in an acct on the day you filed FAFSA…it’s back in a house.</p>