General question - untaxed income

ordinarylives
Thu, 28 Jun 2012 08:59:47 +0000

Basically, I’m curious to know if untaxed income is treated the same as taxable income by FAFSA? Yes, I’ve done the paper calculations, but didn’t arrive at an answer. But it seems like here, when people throw out incomes around what mine is and expected EFCs for that income, my actual EFC is quite a bit lower. My AGI is quite a bit lower than total income because of paid housing, which is subject to FICA/medicaid, but is not otherwise taxable income. Of course I report it.

Now, I’m not complaining, and in my current situation, I pay less than my EFC for D’s school anyway, but I am curious and wondered if anyone here knew the answer.