Will this change in the reporting of things NOT on the tax return also apply to schools using the CSS Profile or their own additional form to the FAFSA? As is stands now, there are a number of items on the Profile that already do not appear on the FAFSA (e.g. primary home equity).
Schools that meet full need for all use their own form (Princeton) or the Profile. The only outlier is University of Chicago which has its own very brief form, but uses primarily the FAFSA financials.
As noted above…if you planned to put $6000 in this IRA anyway…do so. If you are doing it in the hopes that it will increase your student’s need based aid…think at least twice.