Application Deadline: March 31, 2023
This question is intended to have you determine and report the value of your parent’s / parents’ business/investment/farm net worth. Net worth is basically the value of of the business/investment/farm minus any debt that is owed.
To answer this question, you will simply subtract the total value(s) from the debt(s) owed and report that number. If the number is positive, leave as is. If the number is negative, you will report $0. For multiple businesses/investment/farms owned, add these figures, once calculated individually, together and report as one figure.
When reporting this figure, it is important to understand that net worth cannot be reported as a negative number, even if your parents owe more in debt than the value of their business/investment/farm.