help with penn financial aid form

munkeegirl
Sat, 31 Dec 2005 10:58:44 +0000

The answers below apply if your parents filed a 1040 form last year. If they filed a 1040A, repost and I’ll look up the info. If they filed a 1040EZ, then put “0” for all these answers except total tax paid.



there’s no 1040A but there’s a 1040 NR for Jersey.



State and local income taxes should be on line 5 of schedule A (if your parents itemized thier deductions), otherwise you will have to hunt through thier tax documents for any state and local tax statements.

If you parents own real estate, the real estate taxes will be on line 6 of schedule A.



There’s also no schedule A. There’s a schedule B though.
I’m looking at their W-2 Wage and Tax statement and there’s a “State income tax”. Should I just add my mother’s and father’s together?



Total itemized deductions is on line 37 unless your parents took the standard deduction described in the left hand margin of the form.



line 37 I see “amount from line 36 (adjusted gross income)” But on line 39, it says “Itemized deductions (from schedule A) or your standard deduction(see left margin)” = 9,700 (because they’re married filing jointly). So should Total itemized deductions just be zero since 9,700 is from standard deduction?



Earnings are going to be your W-2 income on the top line of the 1040 form.



They asked for student earnings. I did an internship over the summer and havent filed taxes yet. Would it be before or after taxes then?

Also they ask for taxable income received from social security…I didn’t see anything on the 1040, but when I checked the w-2 wage and tax statement, there’s a “social security tips”, “social security wages”, and a “social security tax withheld”. That wouldnt happen to have to do with taxable income received from social security, would it?

Thank you very much for the help!