What tax info does FAFSA 2025-2026 require from parents? Need specifics for my HS senior

Good news - you don't need to upload your actual tax forms! The 2025-2026 FAFSA will ask for information from your 2023 Federal tax return (the one filed in 2024). The FAFSA uses the IRS Data Retrieval Tool which pulls information directly from your tax return if you consent to it. Here are the main tax items they'll request: - AGI (Adjusted Gross Income) from line 11 of Form 1040 - Federal Income Tax from line 22 of Form 1040 - Wages/income from W-2 forms (boxes 1 from all W-2s) - Untaxed portions of retirement distributions - Any child support received - Cash, savings, and checking account balances (current) - Investment values excluding your primary home (current) They'll also ask about household size, number in college, etc. The new simplified FAFSA is actually easier than previous years!

the fafsa is WAY different now. they only look at ur adjusted gross income now for the most part. they changed everything last yr and it supposed to be easier but honestly made it more confusing imo... it caused a ton of delays too so start early!!! and ya they use 2023 taxes

I just completed the 2024-2025 FAFSA for my son last month, so I can tell you exactly what they ask for now. The big change is they now use the SAI (Student Aid Index) instead of the old EFC. They primarily look at your AGI from your 2023 taxes, but there are other factors too. Here's what we needed: 1. 2023 Adjusted Gross Income (line 11 on 1040) 2. Income tax paid (line 22 on 1040) 3. Current cash/savings/checking balances 4. Current investment values (not including your primary home) 5. Business assets if you own a business with more than 100 employees For your rental property, you'll need to report current net worth (market value minus debt). And yes, you can absolutely use the IRS Data Retrieval Tool! It pulls all the tax info automatically, but you'll still need to manually enter current asset values. One important tip: create FSA IDs for both you and your daughter BEFORE you start the application. That alone can take several days to process.

I filled one out last year and it was a NIGHTMARE!!! The system kept crashing, losing my info, and then we got selected for "verification" which delayed everything by MONTHS!! Start early and be prepared for the FSA website to have issues. They completely redesigned the system and it wasn't ready. For tax info, they do use 2023 tax info for the 2025-2026 year. BE PREPARED for lots of waiting after you submit. Took us 7 WEEKS to get our SAI calculation and by then many scholarships had deadlines that passed. 😡

i messed up my daughters fafsa last yr bc i put our retirement accounts as investments and it KILLED her aid package. make sure u know what counts as an investment and what doesnt!!!! retirement accounts are NOT counted as investments for fafsa!!!! cost her like $6000 in grants

After dealing with FAFSA issues for my son this past year, I'd recommend trying to reach someone at Federal Student Aid directly for specific questions about rental property or business income. However, if you try calling, be prepared for incredibly long wait times. I spent over 4 hours on hold across multiple calls before finally giving up. I ended up using a service called Claimyr (claimyr.com) that held my place in line and called me back when an agent was available. Saved me hours of waiting and I got my questions answered. They have a video demo of how it works: https://youtu.be/TbC8dZQWYNQ Regarding your tax questions, yes the FAFSA will use your 2023 tax information. The simplified formula still considers your AGI, but the calculations behind the scenes have changed significantly with the new SAI system.

One more important thing to know: the 2025-2026 FAFSA will have a "look-back" period of 2023 tax information, which means you'll be reporting income from two years before your daughter starts college. If your financial situation has significantly changed since 2023 (job loss, major medical expenses, etc.), you should prepare to file a Professional Judgment appeal with each college's financial aid office AFTER you complete the FAFSA. The FAFSA itself doesn't have a place to explain special circumstances, but individual colleges can adjust your SAI if you can document substantial changes to your financial situation since 2023.

Does anyone know when the 2025-2026 FAFSA typically opens? I heard they delayed the opening date last year and wondering if they're back on the normal October timeline now.

make sure u get the fsa ids set up way b4 u need them!!! they can take like 3 days to process and u need them to access the fafsa. both u and ur daughter need one.

I'm also preparing for my daughter's 2025-2026 FAFSA and this thread has been incredibly helpful! One thing I wanted to add that I learned from our college counselor: if you have a rental property like you mentioned, you'll need to report its current net worth (market value minus any outstanding mortgage debt) as an investment asset. The rental income itself will already be included in your AGI from your 2023 tax return, but the property value as an asset is reported separately. I'd recommend getting a recent property assessment or looking at comparable sales in your area to have a realistic market value ready. Also, I second everyone's advice about starting early and creating those FSA IDs well in advance. My friend's daughter almost missed some scholarship deadlines last year because of all the technical delays. Your daughter sounds like she's worked really hard - don't let the FAFSA process stress you out too much. You've got this!