Did (or will) your parents file a Schedule 1 with their 2018 tax return?

Did (or will) your parents file a Schedule 1 with their 2018 tax return?

This is question 82 on the paper Free Application for Federal Student Aid (FAFSA®) form.

Generally, taxpayers file a Schedule 1 to report income or adjustments to income that can’t be entered directly on Form 1040.

This question is used to help determine if your parent(s) may be eligible to skip certain financial questions in the FAFSA form.

Select “No” if your parents didn’t and won’t file a Schedule 1.

OR

Select “No” if your parents filed or will file a Schedule 1 but only to report one or more of the following six additions or adjustments to income on Schedule 1:

  1. Capital gain (Line 13 may not be less than 0)
  2. Unemployment compensation (Line 19)
  3. Other income to report an Alaska Permanent Fund dividend (Line 21 may not be less than 0)
  4. Educator expense (Line 23)
  5. IRA deduction (Line 32)
  6. Student loan interest deduction (Line 33)

Refer to the image below that shows you where to find the six exceptions on the Schedule 1.

2018 schedule 1 form

Select “Yes” if your parents filed or will file a Schedule 1 to report additional income or adjustments other than one or more of the six exceptions listed above.

If your parents don’t know if they filed or will file a Schedule 1, select “Don’t know.

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