What follows is a list of the most common income errors that families make when completing the FAFSA form.
- Missing income or asset information - This information must be provided annually even on renewal applications. If the answer is zero, write zero.
- Report taxes withheld rather than taxes paid - Follow FAFSA instructions as to which line to get tax info from.
- Taxes paid same figure as AGI - AGI and taxes paid should not be the same. Follow FAFSA instructions as to which line to get taxes paid and AGI from.
- No student income reported - income must be reported even if student was not required to file taxes.
- Parent's income from work missing or double listed - List the amount of wages earned by father on one line, the amount earned by mother on the other line.
- Submitted without parental income info - Students previously granted a dependency override must request a dependency override each year.
- Didn't eliminate income of parent no longer in household - If parents are separated or divorced but filed jointly, remove the income of the non-custodial parent.
- Didn't include step-parent's income - If custodial parent is remarried step-parent's income must be reported even if they choose not to help the student pay for college.
- Included guardian's income instead of parent's income - Only report the income of birth parents or adoptive parents. Students who have lived with legal guardians for a long period of time may qualify for a dependency override.
- Did not complete Worksheets A, B and C - If the answer is zero, write zero.
- Didn't include tax deferred pensions from W-2 box 12 - should be reported on Worksheet B.
- Did not include military or clergy housing allowance - should be reported on Worksheet B.
- Did not list amount of veteran's benefits received - must be reported.
