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Member
biggkinn
Posts: 2
Registered: ‎12-19-2013

Amending Tax Returns for FAFSA Purposes

I having a hard time understanding why i or anyone would have to have my income tax return amended in order to apply for FAFSA for college for myself and for my daughter. Does anyone have any insight into this? How much does it take to amend a income tax return?

Alumni Associate
WillMc1
Posts: 1,000
Registered: ‎12-13-2013

Re: Amending Tax Returns for FAFSA Purposes

Hello biggkinn, and welcome to The Community.

The only reason to amend a tax return is to make a correction to your original return that you filed. Was there an error found when you applied for financial aid? Did you receive an IRS letter indicating a correction is needed or that they refigured your original return? In situations such as these would be about the only reason that FAFSA would ask for an amended return.

Amending a tax return is done using Form 1040X (see link below). Along with that form, you would need to attach a copy of any of the other corrected forms/schedules that had changed or have been added since you filed your original return. In our offices, we offer a service called Second Look Review (free in company offices) where we go through your original return as if we are preparing it for you. If we find any error(s) or differences, you can have us amend your return for you at a reduced fee.

While I don't know any details of your situation, I hope you find this helpful. Good luck to you.

http://www.irs.gov/uac/Form-1040X,-Amended-U.S.-Individual-Income-Tax-Return
WillMc1
Tax Professional (Retired)
Member
biggkinn
Posts: 2
Registered: ‎12-19-2013

Re: Amending Tax Returns for FAFSA Purposes

Well there were no errors , no letters from the irs, or any thing. The admissions office for my school as well as for my daughters school say that my return has to be amended because the IRS says that since me and my wife live in the same home, our return should show the same even though our filing status for 2012 was not illegal.
Alumni Associate
WillMc1
Posts: 1,000
Registered: ‎12-13-2013

Re: Amending Tax Returns for FAFSA Purposes

[ Edited ]
Biggkinn,

Married couples residing in the same home have two possible filing statuses, Married Filing Jointly(MFJ), and Married Filing Separately (MFS). Both filing statuses list the name of the spouse (on line 3 Form 1040 for MFS) in the heading, but on a MFS return the income, deductions, etc, that are reported are those attributed to the filer only. If this is the case in your situation, amending your return is a simple matter of just adding your wife's name in the heading, make no changes in the numbers that were reported on your original return, and under the explanation of changes write something like, "Added spouse's name to be in compliance, line 3 of Form 1040 was left blank on the original filed return.

I know it must be frustrating for you, but I hope this helps.
WillMc1
Tax Professional (Retired)