Which tax year to report on FAFSA

srbres 2017-09-17 15:29:17 UTC #1

I'm preparing to file the FAFSA in October 2017 for my daughter's sophomore year (2018/2019). I realize I can use my 2016 tax return but because of a stock sale my 2016 AGI is significantly higher than my 2017 AGI will be. What is the best course of action? 1. File the FAFSA October 1st with the 2016 information, wait for the college to reduce my financial aid and then file a special circumstance appeal or 2., wait to file the FAFSA until I have my 2017 tax information in January, 2018, or 3. File the FAFSA this October using my estimated amount of income for tax year 2017? Help!

dcandmc 2017-09-18 00:02:24 UTC #2

The 2018-2019 FAFSA will require that you use your 2016 tax information. No exceptions. Your only option of the ones you propose is to file a special circumstances appeal.