submitting FAFSA and CSS with potential changes to tax return (1040X)

[23andme]

I am hoping to fill out my FAFSA and CSS this week, but I may have to file a 1040X (amended return) for 2021 taxes. This is pending some information from a previous job.

Should I fill out the FAFSA and CSS now? What happens if I have to file a 1040X in a few weeks or a few months?

It’s from a potential mistake on my W2 that my previous employer made me aware of. They are consulting their accounting team to figure it out. I don’t know how long it will take and don’t want to miss out on financial aid because of it. It might raise my AGI a bit, but I doubt enough to impact any potential need based aid (if I receive any at all!)

---

Members don't see this ad.

 

[wysdoc]

I am hoping to fill out my FAFSA and CSS this week, but I may have to file a 1040X (amended return) for 2021 taxes. This is pending some information from a previous job.

Should I fill out the FAFSA and CSS now? What happens if I have to file a 1040X in a few weeks or a few months?

It’s from a potential mistake on my W2 that my previous employer made me aware of. They are consulting their accounting team to figure it out. I don’t know how long it will take and don’t want to miss out on financial aid because of it. It might raise my AGI a bit, but I doubt enough to impact any potential need based aid (if I receive any at all!)

This year’s FAFSA uses the data from the 2020 tax year so don’t worry.
By the time you need to update it in a year, your 2021 numbers should be sorted out.

 

[23andme]

This year’s FAFSA uses the data from the 2020 tax year so don’t worry.
By the time you need to update it in a year, your 2021 numbers should be sorted out.

This is for the 2023-2024 school year, which says it uses 2021 taxes. I was thinking of submitting the FAFSA now with the current information I have, then correcting it & notifying financial aid offices if I end up having to file a 1040X. What do you think?

https://studentaid.gov/articles/things-you-need-for-fafsa/#:~:text=Your%20Federal%20Income%20Tax%20Return,will%20report%20your%202021%20income.

 

[wysdoc]

This is for the 2023-2024 school year, which says it uses 2021 taxes. I was thinking of submitting the FAFSA now with the current information I have, then correcting it & notifying financial aid offices if I end up having to file a 1040X. What do you think?

https://studentaid.gov/articles/things-you-need-for-fafsa/#:~:text=Your%20Federal%20Income%20Tax%20Return,will%20report%20your%202021%20income.

Well, while it’s a drag to do things twice, you’ll have to go by the deadlines the school suggests for financial aid. Do they want it right away? You will have to file the correction later

 

[23andme]

Well, while it’s a drag to do things twice, you’ll have to go by the deadlines the school suggests for financial aid. Do they want it right away? You will have to file the correction later

Figured it out, thanks!