General Question

lilikoi's avatar

If you file 1040A, do you need to report assets (cash, etc) on the FAFSA?

Asked by lilikoi (10079points) March 23rd, 2010

Heard somewhere that you don’t. Form makes it look like you do.

Observing members: 0 Composing members: 0

14 Answers

njnyjobs's avatar

FAFSA requires you to indicate Assets, regardless of how you file your ITR.

dpworkin's avatar

Don’t lie, obfuscate or hide things on your FAFSA.

nikipedia's avatar

Yes, you always need to report assets on the FAFSA.

lilikoi's avatar

Thanks all!

casheroo's avatar

I never have to report my assets on FAFSA. And we file a 1040A.

lilikoi's avatar

Now I am confused…

Judi's avatar

@lilikoi, skip the fafsa. Pay your own way. It’s a federal program and if you hate the idea of government being involved in healthcare you will also hate it being involved in higher education.~

dpworkin's avatar

@Judi GA. I forgot it was a Socialist trick to ensnare real Americans.

casheroo's avatar

@lilikoi It goes by income, not which tax form you fill out.

lilikoi's avatar

@Judi @dpworkin

I’ve paid quite a bit of taxes over the last few years since I have been out of school. My taxes are being used to subsidize education and health care. Even if I don’t like how the system works, I am constrained by it as long as I am an American citizen, and I’m paying for it. Makes perfect sense to fill out a FAFSA once you consider the big picture.

Next time think it through all the way before posting an asinine, irrelevant comment. I didn’t ask for your opinion on whether or not I should file a FAFSA or where the politics of health care and education converge or diverge – rather my question was specifically about asset reporting.

dpworkin's avatar

Suck it up if you can’t take a joke you whining baby.

lilikoi's avatar

Could anyone else tell that that was a joke??? I can’t hear humor or whining from a bunch of text, but apparently you can…... o_O

dpworkin's avatar

Sorry. Not whining. Pettily self-justifying.

Judi's avatar

The ~ was a clue.

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