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<li><p>1099 Question—Can’t accurately estimate my wife’s Schedule C—don’t have all income and expense info—should I Overestimate profit just to be safe or just try to come close and risk not estimating enough? (i’ve heard it’s better to go back and increase if necessary?)</p></li>
<li><p>If I overestimate (and have not filed) can’t I just go ahead and check “filed”? If our FAFSA is pulled (audited) and we have overestimated income—does it really matter if our tax return doesn’t match? Just concerned that I’m not going to have all “official” forms in buy April and do not want to miss out on any potential fin aid dollars.</p></li>
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<p>Estimate it as accurately as possible. I would err on the side of underestimating income if you are unsure. You may (depending on the school) get a tentative award based on your estimates. This will be adjusted to reflect your actual income once that is finalized. it may be harder to add aid if if you overestimated aid rather than take it away if you underestimated. But be as accurate as you can so you have a realistic idea of what your aid is.</p>
<p>No you can’t just say you have filed when you have not. You are completing a federal form when you are completing FAFSA. Don’t lie on it. If they did not want an answer to a specific question they would not ask it. And when you sign FAFSA with your PIN you are verifying that the content you are submitting is true. </p>
<p>A minimum of 30% of FAFSAs submitted to a school must be verified - some schools verify more. (Out of 7 FAFSAs we have filed we have had 6 verified - one of the schools verifies 100% of FAFSAs.)</p>