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FAFSA for independent applicant w/ divorced parents

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working on my catchphrase
10+ Year Member
5+ Year Member
May 13, 2004
san diego, ca

    this is also posted in the pre-allo forum, but it was recommended to me to post here as well.... any advice is appreciated

    other post:

    i can't be the only one...
    whose information did you put down? (the form asks you to choose at some point)

    i live with neither and am independent, but in order to be considered for institutional aid (and because some of the schools i'm still in the running for ask for it), i'm going to include their information....

    mom makes less but recently took a chunk out of her IRA to put a down payment a house...
    is that IRA withdrawal "income"? or is it simply a transfer of funds to another investment?

    any advice?

    OSUdoc08 said:
    Call your school to see if they require parental information on your FAFSA. Many do not, but some do, so it's good to check. Parental information will NOT be used for any federal aid, but it could be used for local school aid, if they provide it (not all do.) This might save you the trouble.

    i dont have a school yet but i'm still in the running for a couple that do specifically ask for parental info, so i was going to include it anyway... dartmouth, for example, goes so far as to ask for photocopies of my parents' tax returns to verify the information i give on the FAFSA...
    this will be the first time that my parents' do their taxes (hopefully) in the year they were due... they like the extension...

    re: IRA withdrawal being considered as AGI; i thought the same thing, but my mom's accountant feels confident in considering it a transfer of funds from one investment to another...

    for deciding which parent has the greater income, does the calculation consider wages or AGI?
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