How to Answer FAFSA Question #83-84: Parents Income Information

FAFSA Questions #83-84 Parents Income Information

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Question 83 and 84 ask about earnings (wages, salaries, tips, etc.) in 2021. Answer the questions whether or not a tax return was filed.This information may be found on the W-2 forms or by adding up the following items: IRS Form 1040—line 1 (or IRS Form 1040-NR – line 1a) + Schedule 1—lines 3 + 6 + Schedule K-1 (IRS Form 1065)—Box 14 (Code A). If a tax form line’s value is negative, treat it as a zero in your calculation.

83.  How much did Parent 1 (father/mother/stepparent) earn from working in 2021?
  • $__ , __ __ __ , __ __ __

84.  How much did Parent 2 (father/mother/stepparent) earn from working in 2021?

  • $__ , __ __ __ , __ __ __

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Application Deadline: December 31, 2022

Why are they asking this information?

This set of questions asks your parent / parents to determine your parent’s / parents’ overall earnings and income for the year. This would include, but is not limited to their wage earnings.

How to answer this question / fill out this section

For either tax return, use the following to impute their earnings:

  • IRS Form 1040: Use Lines 7 + 3 + 6* + Box 14 of IRS Schedule K-1 (Form 1065)
  • Special notes:
    • IRS Form 1040A: Use Line 7
    • IRS Form 1040EZ: Use Line 1

Note: If they did not file taxes, they will need to enter the figures in Boxes 1 + 8 on their W-2 statement.

Additional considerations

  • Form 1065 is an associated tax return for business owners. The Schedule K-1 tells your parent/parents how much they have earned from that business.

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