<p>Hmmm… Now I am a bit confused because I found this back and forth dialogue from 2006 on College Confidential: <a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/97923-assets-included-not-included-efc-calculation-3.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/97923-assets-included-not-included-efc-calculation-3.html</a></p>
<p>The jist of it was as follows:</p>
<p>Person #1: “When I asked FAFSA how it should be treated they told me that it depends on who controls the assets. If you are a limited partner, you have no control and therefore the asset legitimately has no value.”</p>
<p>Person #2: “So then do you leave the limited partnerships in which you are a limited partner without any control off the form? If not, what do you do with the information?” </p>
<p>Person #1 in response: “Leave them off the form. This is what I have been told by by people at FAFSA.”</p>
<p>So, a bit confused on the LP’s. The LLC I can estimate the value of the business and my portion thereof. In the end, I will have K-1’s for all of these if further explanation is needed.</p>