Taxes and Fafsa question

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
User avatar
newyorker88
Posts: 614
Joined: Fri Dec 11, 2009 7:32 pm

Taxes and Fafsa question

Postby newyorker88 » Sat Jan 30, 2010 4:41 pm

Will putting down on your taxes that someone can claim you as a dependant mess up your independant status on the fafsa? and will it make schools take into consideration your parent's income?

User avatar
sirchristaylor
Posts: 339
Joined: Thu Nov 05, 2009 1:33 pm

Re: Taxes and Fafsa question

Postby sirchristaylor » Sat Jan 30, 2010 4:46 pm

newyorker88 wrote:Will putting down on your taxes that someone can claim you as a dependant mess up your independant status on the fafsa? and will it make schools take into consideration your parent's income?


Yes. If you can be claimed, then you are not independent.

PoliticalJunkie
Posts: 228
Joined: Sun Sep 27, 2009 2:32 pm

Re: Taxes and Fafsa question

Postby PoliticalJunkie » Sat Jan 30, 2010 4:50 pm

Depends, simply being able to qualify as a dependent does not mean you will actually be viewed upon as dependent RE: Fafsa.

How old are you and where do you live?

Your parents can only qualify you as a dependent if each of the following are answered affirmatively.

1) You must be an actual relative.
2) You lived for more than half the year in your parents residence
3) You are under 19, or under age 24 and a be a full-time student for at least five months out of the year, or
any age and totally and permanently disabled.
4) You did not provide more than half of his or her own support during the year.

As per FAFSA, you are considered independent if you are pursuing grad school. Then again, many law schools require parental information for students under 30 so either way parental information is school-specific.

User avatar
newyorker88
Posts: 614
Joined: Fri Dec 11, 2009 7:32 pm

Re: Taxes and Fafsa question

Postby newyorker88 » Sat Jan 30, 2010 4:52 pm

PoliticalJunkie wrote:Depends, simply being able to qualify as a dependent does not mean you will actually be viewed upon as dependent RE: Fafsa.

How old are you and where do you live?

Your parents can only qualify you as a dependent if each of the following are answered affirmatively.

1) You must be an actual relative.
2) You lived for more than half the year in your parents residence
3) You are under 19, or under age 24 and a be a full-time student for at least five months out of the year, or
any age and totally and permanently disabled.
4) You did not provide more than half of his or her own support during the year.

As per FAFSA, you are considered independent if you are pursuing grad school. Then again, many law schools require parental information for students under 30 so either way parental information is school-specific.


I'm 21 and dorm at my college. I stay with my parents on school breaks. My parents pay part of my tuition and said they will be claiming me as a dependant on their taxes.




Return to “Financial Aid”

Who is online

Users browsing this forum: No registered users and 1 guest