Help with fafsa questions?

Question

I am doing the parents income estimator. I have no problem getting the income information from my father but would like to know what these questions mean.

it ask for the amount of Wages, salaries, tips, etc.

also,

IRS-allowable adjustments to income (payment to IRA and Keogh Plans, one half of self employment tax, self-employed health insurance deduction, interest penalty on early withdrawal of savings, alimony paid, and student loan interest deduction).

I am confused, can anyone help me out?
thanks

Answer 1

Those adjustments are found on lines 23 to 35 of your parents tax return (IRS Form1040). The following link will give you a blank copy of that form. It is rare that anyone can complete the FAFSA forms without having a copy of the last years income tax return for their parents and or their own.
http://www.irs.gov/pub/irs-pdf/f1040.pdf?portlet=3

Answer 2

No, FAFSA (unfastened utility for Federal scholar help) isn't a scholarship. that's an utility that the U. S. branch of preparation makes use of to confirm your eligibility for federal scholar help. each and each college has its own time shrink ("priority time shrink") for once you're able to be able to desire to get your FAFSA finished. those pupils who post their FAFSA earlier the time shrink are given priority over pupils who document later. specific federal money, such simply by fact the Pell grant and artwork-learn, are given to faculties in constrained quantities. as quickly as the college awards all those money to pupils, there is not extra left to grant.

Answer 3

All of these words mean exactly the same on the FAFSA application as they do on your parents tax return. If you have there tax return, all you need is to copy the numbers. If the number is not on the tax return, it does not apply to your situation.

Answer 4

You'll need a copy of your father's tax returns to extract that information.