<p>Hello I have a question. We are U.S. citizens residing in the U.S. My grandmother who passed away some years ago in Slovenia has left us a house that she used to live in. I put the price of the house on the FAFSA and Profile, but as you might know, it is not on the tax return we file here. It is my understanding that the officers in finaid compare the facts on the finaid form and tax return. How does the process for determining my aid work?</p>
<p>The value of your second home would not appear on your tax return unless it is a rental property. You just include the value as one of your assets. Some things are NOT on your tax return. Your bank balances are not on your tax returns either but they are also counted as assets.</p>