Comments on: My parents weren’t required to file taxes last year. What documents do I need for college financial aid? http://www.collegescholarshipessentials.com/college-financial-aid/my-parents-werent-required-to-file-taxes-last-year-what-documents-do-i-need-for-college-financial-aid All About scholarships Sun, 18 Sep 2011 18:20:21 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Suddenly Human http://www.collegescholarshipessentials.com/college-financial-aid/my-parents-werent-required-to-file-taxes-last-year-what-documents-do-i-need-for-college-financial-aid/comment-page-1#comment-773 Suddenly Human Tue, 27 Oct 2009 00:55:59 +0000 http://www.collegescholarshipessentials.com/college-financial-aid/my-parents-werent-required-to-file-taxes-last-year-what-documents-do-i-need-for-college-financial-aid#comment-773 She's right. If they did not get enough in Social Security to file taxes then they won't have a tax return. A W2 form is something people get from their employer when they work at a job. If neither of them worked for the entire 2008 year, then they won't have a W2 form either. If your parents have any investmentsa and assets then these things are to be reported as well. Investments include real estate (do not include the family home), trust funds, UGMA and UTMA accounts, money market funds, mutual funds, certificates of deposit, stocks, stock options, bonds, other securities, Coverdell savings accounts, 529 college savings plans, the refund value of 529 prepaid tuition plans, installment and land sale contracts (including mortgages held), commodities, etc. For more information about reporting educational savings plans call 1-800-4-FED-AID. Investment value means the current balance or market value of these investments as of today. Investment debt means only those debts that are related to the investments. • Do not include the value of life insurance, retirement plans (401[k] plans, pension funds, annuities, noneducation IRAs, Keogh plans, etc.) or cash, savings and checking accounts already reported in questions 41 and 91. • Business and/or investment farm value includes the market value of land, buildings, machinery, equipment, inventory, etc. Business and/or investment farm debt means only those debts for which the business or investment farm was used as collateral.<br><b>References : </b><br>http://www.fafsa.ed.gov/before003.htm http://www.fafsa.ed.gov/fafsaws90c.pdf (page 5) She’s right. If they did not get enough in Social Security to file taxes then they won’t have a tax return. A W2 form is something people get from their employer when they work at a job. If neither of them worked for the entire 2008 year, then they won’t have a W2 form either.

If your parents have any investmentsa and assets then these things are to be reported as well.

Investments include real estate (do not include the family home), trust funds, UGMA and UTMA accounts, money market funds, mutual funds, certificates of deposit, stocks, stock options, bonds, other securities, Coverdell savings accounts, 529 college savings plans, the refund value of 529 prepaid tuition plans, installment and land sale contracts (including mortgages held), commodities, etc. For more information about reporting educational savings plans call 1-800-4-FED-AID. Investment value means the current balance or market value of these investments as of today. Investment debt means only those debts that are related to the investments. • Do not include the value of life insurance, retirement plans (401[k] plans, pension funds, annuities, noneducation IRAs, Keogh plans, etc.) or cash, savings and checking accounts already reported in questions 41 and 91. • Business and/or investment farm value includes the market value of land, buildings, machinery, equipment, inventory, etc. Business and/or investment farm debt means only those debts for which the business or investment farm was used as collateral.
References :
http://www.fafsa.ed.gov/before003.htm
http://www.fafsa.ed.gov/fafsaws90c.pdf (page 5)

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