Need based scholarship without doing a tax return

[949898]

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Hello! I earned less than $3,000 last year (grad student until May and couldn't find a decent job after) and I am independent this year. I am not eligible to file tax return unless I have someone who has more money claiming me as a dependent (from what I read). I know some people will still file with such income but I don't wanna waste my money filing since I won't be getting anything or little in return. Now my question is about FAFSA. If I choose "will not file", how does this affect my chance of qualifying for a need based scholarship for med sch?

 

[OchemOficionado]

Hello! I earned less than $3,000 last year (grad student until May and couldn't find a decent job after) and I am independent this year. I am not eligible to file tax return unless I have someone who has more money claiming me as a dependent (from what I read). I know some people will still file with such income but I don't wanna waste my money filing since I won't be getting anything or little in return. Now my question is about FAFSA. If I choose "will not file", how does this affect my chance of qualifying for a need based scholarship for med sch?

Institutional aid usually requires both yours (if you worked) and your parent’s tax info for Med school. Not sure how the “will not file” will effect things, but you could always just file your taxes for free.

 

[boundlesscorpuscle]

On the current FAFSA, they ask for your 2017 tax/income information. If you are flagged for review you may have to provide your most current tax information, and individual schools may require 2018 tax returns, but generally speaking it seems that your info from 2017 should be sufficient.

 

[949898]

Institutional aid usually requires both yours (if you worked) and your parent’s tax info for Med school. Not sure how the “will not file” will effect things, but you could always just file your taxes for free.

Where do you file tax for free? I was asked to pay $205 for it.

 

[949898]

On the current FAFSA, they ask for your 2017 tax/income information. If you are flagged for review you may have to provide your most current tax information, and individual schools may require 2018 tax returns, but generally speaking it seems that your info from 2017 should be sufficient.

If you use 2017 tax return, don't you have to update after filing for 2018?

 

[boundlesscorpuscle]

If you use 2017 tax return, don't you have to update after filing for 2018?

I don't believe so. It was in the last few years that FAFSA implemented the use of the prior-prior year's tax information for current years' financial aid determination. However, I'm no expert, so it's always best to follow up with the school in question.

 

[OchemOficionado]

Where do you file tax for free? I was asked to pay $205 for it.

Both Turbo Tax and H&R Block offer free filing to those that qualify. Sometimes public libraries and colleges host free tax filing events, etc. You’ll have to research some to find something in your area or online.

 

[dpmd]

Where do you file tax for free? I was asked to pay $205 for it.

By who? You could always go to irs.gov and download a 1040ez form with instructions and just mail it in for the cost of a stamp and your time. But as mentioned lots of online folks offer free basic filing (assuming what you earned was in a manner that the ez form addresses).

 

[doc05]

With such a low income, filing is simple and free. Also, if you had any withholding, you’ll get it all back.

 

[Toutie]

Where do you file tax for free? I was asked to pay $205 for it.

Who the heck quoted you $205 for what will amount to a super simple 1040EZ filing??? 😱 Word of advice...stay as far away from doing business with them in the future as you can!

 

[mackie10]

File free with Turbo Tax! I'm pretty sure you would qualify

 

[jamaica jan sun princess]

You can file free of charge on websites such as Free Tax USA or Credit Karma. You probably won't get anything beyond the payroll taxes (presumably) withheld on the $3000 back, but it's free to file and only takes 15 minutes or so.

 

[dpmd]

Who the heck quoted you $205 for what will amount to a super simple 1040EZ filing??? 😱 Word of advice...stay as far away from doing business with them in the future as you can!

I am guessing they went to an accountant. That is about what I paid the one year I had my taxes done where my parents got theirs done. Never again.