Help me with FAFSA & CSS PROFILE, please

[cptofthehouse]

@BelknapPoint

A gift is not income, for the IRS or FAFSA

Technically, a cash gift received by the student during the reporting year (i.e. received in 2018 and completing the 2020-2021 FAFSA) may need to be reported on FAFSA as “untaxed income” (FAFSA’s language, not mine).

A gift is not income to the IRS. It IS income, specifically “untaxed income” to the STUDENTS on FAFSA. But not to the parent.

Thanks for pointing that out, @BelknapPoint I left it confusing and incorrect there.