Firstly, thanks for reading this. I'm from California and this is my first time dealing with IRS. Let's say I use my $15k (saved from financial aid money) to trade short-term stocks and earn $10k in one year (after filing Form 1040). Does IRS report my information to FAFSA in details such as I put in $15k and earned $10k?
I live by myself and completely being independent from my family. However, I have to file as dependent on FAFSA because I'll be 23 in July 2013, no kid, single, and still in undergrad. My divorced father's adjusted gross income is $16k/year and we have 3 people in the household including me. Will I still be eligible for financial aid? I think I'll have to put my profits from stock AND my father's adjusted gross income on FAFSA forms. Does it help if my father doesn't claim me on his tax? Or how does it work?
Can somebody give me some insights please? I'd really appreciate it!
I live by myself and completely being independent from my family. However, I have to file as dependent on FAFSA because I'll be 23 in July 2013, no kid, single, and still in undergrad. My divorced father's adjusted gross income is $16k/year and we have 3 people in the household including me. Will I still be eligible for financial aid? I think I'll have to put my profits from stock AND my father's adjusted gross income on FAFSA forms. Does it help if my father doesn't claim me on his tax? Or how does it work?
Can somebody give me some insights please? I'd really appreciate it!
