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I am trying to answer parent 1 and parent 2 income on the…

Customer Question
I am trying to...

I am trying to answer parent 1 and parent 2 income on the FAFSA form and I'm just not sure what the correct amounts are. I'm looking at all my tax forms now.

Accountant's Assistant: The Expert will know how to help. Please tell me more, so we can help you best.

Ok. what else do you need to know?

Accountant's Assistant: Is there anything else the Expert should be aware of?

Not that I know of. If they could just tell me what lines i get the info from for parent 1 and parent 2.

Submitted: 8 months ago.Category: Tax
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10/5/2017
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 8 months ago
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,408
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Hi, my name is Mark. I will be happy to help you with your questions.

The parent income would be determine by the following: IRS Form 1040—lines 7 + 12 + 18 + Box 14 (Code A) of IRS Schedule K-1 (Form 1065); 1040A—line 7; or 1040EZ—line 1. If any individual earning item is negative, you would not include it in your calculation.

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Customer reply replied 8 months ago
I found that info on my own. Problem is the 1040 form is both parents income, correct?
Customer reply replied 8 months ago
I was already charged $46 when it said I would be charged $5.
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 8 months ago

Correct. Are there any schedules that break down the amounts. If there isn't schedule you could request a copy of a income and wage transcript. This will report the income that is reported to the IRS.

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Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 8 months ago

I do not have any control over the charges. If you are not satisfied you are more than welcome to request a refund. Customer service is very good about handling these requests.

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Customer reply replied 8 months ago
Ok. Can you send me to customer service??
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 8 months ago

I will flag the post and refer it to customer service. Once I do this I will not be able to post any additional messages.

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Customer reply replied 8 months ago
Ok, thank you
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