<p>One huge mistake people make is over-estimating taxes paid. It’s not the amount of all taxes withheld, but the amount of taxes paid per line 55 of the 1040. Other mistakes: Income earned from work should total the number on line7 of the 1040. If line 12 has a positive value, that is also reported as income earned from work. AGI is the amount at the bottom of page 1 of the 1040. </p>
<p>Make sure amounts on W2 in box 12 (not 12C, though) are put in untaxed income. If there is unemployment income reported, make sure the excess that was allowed to be excluded on the tax return (first $2400 for each person earning unemployment) is reported as other untaxed income. </p>
<p>Don’t make the mistake of saying the parent is “eligible” to file a 1040A or 1040EZ if any item on the 1040 could NOT be transferred directly to a 1040A or 1040EZ (so if there is business income, itemized deductions, etc it’s 1040 only). </p>
<p>If a family has a bunch of kids, the EFC will most likely be lower for them than it would be for a family with one kid, all other things being equal.</p>
<p>$100k should be closer to $19000-20000 EFC for 2 parents/2 kids.</p>