<p>SteveMA - are you talking about the IRS retrieval tool? If so, i think you have to wait until your return has been processed, then you can import the data. It helps if you’re hosen for verification because then you won’t have to proved irs transcripts.</p>
<p>I have my 2012 turbo tax already installed on my computer :D. I prefer the CD’s over the online version because you have more functionality with the CD’s. I’m set up for auto renew so they just mail them out in Dec or whenever.</p>
<p>yes Ree-that is what it is called.</p>
<p>This is what I did over the weekend:
- ‘Estimated’ my W-2 form based on my last paycheck 12/21.
- ‘Estimated’ my income tax return 1040 form using freetaxusa (using it for years).
- ‘Estimated’ my FAFSA from previous two using draft:
<a href=“http://edicsweb.ed.gov/edics_files_web/04899/Att_2013-2014_FAFSA.pdf[/url]”>http://edicsweb.ed.gov/edics_files_web/04899/Att_2013-2014_FAFSA.pdf</a> - ‘Estimated’ my EFC using the formula below manually (this what FAFSA4caster is using)
<a href=“http://ifap.ed.gov/efcformulaguide/attachments/091312EFCFormulaGuide1314.pdf[/url]”>http://ifap.ed.gov/efcformulaguide/attachments/091312EFCFormulaGuide1314.pdf</a>
Highly recommend!</p>
<p>so, if I have a pin from the FAFSA for D’14…should I do her FAFSA first, and then start my D’13?</p>
<p>I know everyone applying for finaid has to fill out the fafsa, but for schools that use the Profile to determine aid, how much do the fafsa numbers even come into play? Is it just a formality?</p>
<p>SteveMA, I am feeling pretty panicked about the fiscal cliff. I read somewhere that if nothing is done, a family with a 150K income will owe 14K more? It may be a scare tactic, and if it is, it’s working!</p>
<p>I am hoping to gently encourage dd to get app to UK done. I’m taking her to see Les Miz tomorrow, maybe that will be a good time to do so after.</p>
<p>Our holiday was lovely and I’m off until the7th. I am happily going through cabinets, drawers, etc, and am on a whirlwind of decluttering. My goal is to have decluttered the entire house before I return to work!!! I have enlisted oldest ds to take the first load tomorrow. </p>
<p>We have never done FAFSA…oldest ds will be a senior. Does that matter? Should I still fill out for him? I doubt we’ll qualify, but it seems that some schools require FAFSA for merit aid.</p>
<p>Thanks</p>
<p>Is anyone’s kid freaking out about not getting in anywhere? This crunch to get all these essays and applications done before Jan. 1 is really putting one of my sons in a tailspin! He keeps asking and asking what will I do if I don’t get in anywhere? He WILL get in, we have solid safeties but he keeps saying, “I don’t want to be THAT kid!” Now with five days left, both kids want to add another safety. Any suggestions? Is it even possible to send SAT scores now? I have done my best to allay their fears but I know how stressful it is! They weren’t too worried about their EA but now that they both got deferred it has freaked them out a little. Being a high school senior these days is just awful!!! I feel so sorry for these kids. I wish the system wasn’t like it is!</p>
<p>Last minute SAT scores. Does anyone have any experience with this? I just checked and there is a rush service to send SAT scores. It costs an additional $31. When is it worth it to pay that? How long does the regular service take? As long as I order it before the application deadline is that good enough? Any insight is greatly appreciated!</p>
<p>My3gr8boys - My understanding is that the fafsa still required to determine eligibility and as a prerequisite for federal aid including loans.</p>
<p>Greek - is the rush to get the tests scored, or to rush the scores to schools? I"m not familiar with when each school needs those last SAT scores. Do you have a lot of schools in mind? Can you make phone calls? I know sometimes the most important part is the student portion and they are more lax on dates for LORS and non-student stuff. I’m sure I’m not much help…</p>
<p>I’ve been meaning to say how sorry I am that your sons are so stressed out right now! They are such great, motivated, and intelligent kids that I KNOW they will have success. Remember, they can always join my son, and then we could meet and chat on parent weekends! 
Please remind me to deal with my inbox so you can pm to me and share the venting! :)</p>
<p>Awww, rats, the FAFSA/Profile/tax discussions have started. I know it’s necessary, but this is our 4th time through.</p>
<p>carimama-</p>
<p>That’s right. Everyone should really fill out the FAFSA, just in case. It is relatively quick and painless and necessary for loan qualification. You never know what might happen these days.</p>
<p>GreekMana-</p>
<p>My S wanted to do one more after he was done too (although he was done at the end of October). He would have done one more if he hadn’t been accepted SCEA, so I think what they are feeling is normal. I think if it makes them feel better, why not? And the admissions guys we know all say don’t pay to rush scores. Just send them regular.</p>
<p>Greekmana - it’s my understanding that rushing scores is a complete waste of money. Some colleges even specifically say not to do so on their websites. I know I wouldn’t spend the money. But you could probably call admissions and ask their opinion.</p>
<p>Yes, rushing scores is a waste of money. Most of the scores are sent electronically and the schools set the time when they download them. So if you send it “rush”, the school probably won’t download it until the time they normally download scores.</p>
<p>VBCMom-from what I saw on our taxes yesterday that number looks about right compared to last year. It’s a bit scary. As for the FAFSA, you fill it out for the first time after Jan 1st of their senior year in college (assuming they are going to college right after high school). You have until July to fill it out but schools award money first come/first serve and if you wait too long, it’s gone. Everyone should fill it out just in case and again to have access to the loans. You don’t have to take them, but just get the awards, just in case.</p>
<p>AMT…I have to believe that even those good-for-nothings will get the AMT straightened out…it will affect the middle class the hardest. </p>
<p>My3gr8…Profile schools need students to fill out the FAFSA first so they make sure those that qualify get the federal grants they’re entitled to first, reducing the amount the school needs to give from their own coffers.</p>
<p>$14,000!!! I guess all this college planning is for naught. S will be going to the local state school where I don’t have to pay for a dorm and the lottery and his guarenteed scholarship will pay tuition. Then I can use my college savings to pay the IRS.</p>
<p>Sorry for the following statement, but they all think it is a game in Washington. Let’s create a catastrophe so I can promote myself as a savior in the next election. This goes for ALL parties.</p>
<p>Hi, all. I went to a FAFSA talk at our HS just before break. They said that if you enter information before January 1, 2013 it is part of the 2012 record (not 2013) so they said to wait until January 1 & to create an estimated record based on 2011 taxes. then after you file 2012 taxes on or before April 15th, you can go in & fix any numbers.</p>
<p>our GC said that only custodial parent (parent with more custodial time & if the time is split evenly she said to use lower income parent) is required to fill out FAFSA. Seems like a fluke in the system to me but maybe that is sour grapes on my part since I am feeling the pinch since our joint income makes our EFC enormous.</p>
<p>However, even with high EFC we were advised to complete FAFSA so S can take out low interest student loans.</p>
<p>tootiredtocare–even with a high EFC, some schools still give grants, etc. because they want you there. It’s worth the time to do the FAFSA for everyone.</p>
<p>Galaxyfigment–in our case sending our kids to the state school and having them live at home will cost us MORE :D. Just tuition alone at the state school is more than they will be paying next year (well, DD for sure, DS most likely unless he gets into his HMFR):D.</p>
<p>My income is so variable it’s hard to predict so we tend to over contribute during the year and end up with a refund. Our difference is the loss of that refund plus the extra we will have to pay in. We haven’t had to pay in for years. Until I started working again we were about as close to even as we could be-usually within a couple hundred dollars. Now, who knows. Some years we have gotten $1000 back, one year it was $8000 (unexpected HUGE medical bills gave us a nice deduction and loss of wages for me taking care of those medical issues for DD). It isn’t just the AMT that is getting us, its also the marriage penalty that is tacked on again I think.</p>
<p>Thanks SteveMA - I am just tired of the party games our elected official play.</p>
<p>We also have more than enough withheld each year, but not $14,000 more. We usually contribute as if we can’t itemize, but then when we itemize, we get back enough to pay for our summer vacation - usually around $4K. </p>
<p>If my tax bill goes up by $14,000, then I guess S will have to go somewhere that I don’t have to make any contribution. That is just a few thousand less than what my total taxes were last year. I can’t handle a 75% increase in taxes and still send my S to college.</p>
<p>It is probably the admissions/scholarship stress that put me on edge. I usually am a optimist about these things. There is no need creating stress over something that might not happen.</p>
<p>As for the marriage penalty - between the IRS and the FASFA, are they trying to put an end to the nuclear family or what. Seems like we can get much more money if we will just divorce our spouses. </p>
<p>I remember a tax professor telling us about a couple he caught when he worked at the IRS. They would get divorced on Dec 30th and then remarried on Jan 1. The marital status is based on your status on Dec 31.</p>
<p>Galaxy, in the DC area you can’t flip on ESPN without being told that we’re going back into recession, the “other guy” is at fault and unreasonable and it can’t get done because the guy being interviewed is “looking out for the middle class”, therefore unwilling to consider the other party’s plans, etc.
Ok, maybe that’s not on ESPN. But its pretty close. :)</p>