CSS/Financial Aid
®
PROFILE
2014-15
Early Application Instructions
www.collegeboard.org
INSTRUCTIONS
Section A — Student’s Information
Read the instructions as you fill out the PROFILE Early Application. Mistakes
will delay the processing of the form. Some instructions appear on the form
itself. Before filling out the form, lay it alongside the instructions
so that you can check for additional instructions as you go along.
The instructions for this form will answer most questions. If more help
is needed, the student’s high school counselor or college financial aid
administrator may be of assistance.
Write in this section information about yourself, the student who is applying
for aid.
2. If your permanent mailing address is outside the United States or Puerto
Rico, write in the postal code and country to which mail should be sent. If
you live in Canada, write the province as well as the country.
7. Check the box indicating your year in school from July 1, 2014, through
June 30, 2015. If you are currently a senior in high school or will be a
first-time entering freshman, check “first year (never previously attended
college).”
On this form, the word “school” means a college, university, graduate or
professional school, vocational or technical school, or any other school
beyond high school. “Student financial aid” means money from educational
loans, grants and scholarships. It also means earnings received based on the
financial aid administrator’s determination of financial need.
9. Check “Yes” if both your parents are deceased and you don’t have an
adoptive parent or legal guardian. Also check “Yes” if you are currently a
ward of the court or were a ward of the court until age 18.
Special instruction for international students: If you are applying to
one or more schools located in the United States, convert all income, asset
and expense amounts into their U.S. dollar equivalents based on the local
exchange rate on the day that the PROFILE Early Application is completed.
Give the actual rate of exchange used in Section Q. You can find the daily
exchange rate at www.federalreserve.gov/releases/h10/update.
10. Check “Yes” if you have any children who get more than half of their
support from you. Also check “Yes” if other people (not your spouse) live
with you and get more than half of their support from you and will continue
to get that support during the 2014-15 school year.
11. Include yourself, the student and your spouse. Include children
if they will get more than half their support from you from July 1, 2014,
through June 30, 2015. Include other people only if they now live with you,
and now get more than half of their support from you, and will continue to
get this support between July 1, 2014, and June 30, 2015. (Support includes
money, gifts, loans, housing, food, clothes, car, medical and dental care,
payment of college costs, etc.)
Records That Will Be Needed
Get together these records for the student and the student’s family:
•
•
•
•
•
•
2012 U.S. income tax return
2013 U.S. income tax return, if completed
W-2 forms and other records of money earned in 2013
Records of 2013 untaxed income
Current bank statements and mortgage information
Records of stocks, bonds, trusts and other investments
12. Always include yourself, the student. Include your spouse and other
family members only if they plan to enroll at least half-time in 2014-15 in a
program that leads to a degree or certificate.
Note: Some schools and programs may ask the student to send them a copy
of the student’s and/or the parents’ income tax return. If so, send it directly
to the school or program. If the income tax information is not provided, aid
may not be received.
13. Write in the two-letter abbreviation for your current state of legal
residence (permanent home). If that legal residence is outside the United
States, leave this question blank.
14a. If you are a U.S. citizen (or U.S. national), check the first box and go to
question 15. Check the second box if you are one of the following:
• U.S. permanent resident, and have a Permanent Resident Card (I-551)
• Conditional permanent resident (I-551C)
• Other eligible noncitizen with an Arrival-Departure Record (I-94)
from the Department of Homeland Security showing any one of the
following designations: “Refugee,” “Asylum Granted,” “Parole”
(I-94 confirms paroled for a minimum of one year and status has not
expired), “Victim of human trafficking,” T-Visa holder (T-1, T-2, T-3, etc.)
or “Cuban-Haitian Entrant”
Then go to question 15.
If you cannot check box “1” or “2,” you must check box “3,” and complete
14b and 14c.
If a tax return has not been completed yet. If you, your spouse and/or
your parents haven’t completed a 2013 U.S. income tax return but will be
filing one, estimate 2013 income and benefits using income and tax records
from 2012 in addition to salary records from 2013. If you need to correct
PROFILE information after filing the tax return, do so directly with your
schools and scholarship programs.
If a tax return won’t be filed. Even if you and your spouse and/or parents
will not file an income tax return for 2013, it will be necessary to know
earnings for the year. Also, you will need records showing the amount of
income reported on the PROFILE.
How to Avoid Errors When Filling Out the
PROFILE
Complete the PROFILE neatly and accurately. Errors can delay the
processing of your PROFILE.
• Print clearly and neatly. Typing is acceptable.
• Write only in the response boxes or answer spaces.
• Don’t use symbols such as >, <, ~ or N/A.
• Don’t change, delete or add to any questions; and don’t cross out any
section.
• Follow all instructions exactly. If your answer is zero, write “0.”
• Round all figures to the nearest dollar. Don’t use cents. For 50 cents or
more, round up; for 49 cents or less, round down. Don’t enter a range
of numbers.
2
Section B — Student’s 2013 Income and Benefits
25a. Write in the amount of untaxed social security benefits (including
Supplemental Security Income) that you received or expect to receive in
2013. Don’t include any benefits reported in question 18. Don’t give monthly
amounts. Don’t include amounts your parents received for you.
In the instructions that follow, “you” refers to you, the student, and your
spouse if you are married. If married, include both your and your spouse’s
information in this section. The tax line references below are for 2012.
Please use your 2012 return and 2013 records to estimate your income and
benefits for 2013.
25b. Write in the total amount of Temporary Assistance for Needy Families
(TANF) you received or expect to receive for 2013; don’t write in monthly
amounts. Don’t include food stamps or subsidized housing.
16. Check only one box to indicate which IRS form you filed or will file
for 2013. If you filed or will file a 1040, but were/are eligible, based on
financial circumstances, to file a 1040EZ or a 1040A, check box “3.” In
general, a person is eligible to file a 1040A or 1040EZ if the person
makes less than $100,000, does not itemize deductions, does not receive
income from his or her own business or farm, and does not receive alimony.
A person is not eligible if he or she is self-employed or is required to file
Schedule D for capital gains. If you filed or will file a 1040 only to claim
Hope or Lifetime Learning tax credits, and you would have been otherwise
eligible to file a 1040A or 1040EZ, check box “3.”
25c. Write in the total child support you received or expect to receive for
2013; don’t write in monthly amounts. Don't include amounts you paid.
Don’t include foster care or adoption payments.
25d. Estimate your 2013 Earned Income Credit using 2012 IRS Form 1040,
line 64a or Form 1040A, line 41a or Form 1040EZ, line 9a. If you will not file
a tax form, write in “0.”
25e. Fill out the worksheet below and enter the total in question 25e.
Amounts
Deductible IRA and/or SEP, SIMPLE, or Keogh
payments — 2012 Form 1040, total of lines 28
and 32 or 1040A, line 17
$ _____________
If you are currently divorced, separated or widowed but filed or will file a
joint tax return for 2013, give only the student’s portion of the exemptions,
income, taxes paid and itemized deductions in questions 17 through 25.
If you are currently married and your spouse filed or will file a separate tax
return for 2013, be sure to include both the student’s and spouse’s exemptions,
income and taxes paid in questions 17 through 25.
17. If you used or will use the 1040EZ and checked either “you“ or “spouse“
on line 5, use the 1040EZ worksheet line F to estimate the number of
exemptions. If you didn't check either box, enter “01” if single or “02” if
married.
18. Adjusted gross income (AGI) is the taxable income, before exemptions
and deductions, reported on your federal tax return. Use your 2012 IRS Form
1040, line 37 or Form 1040A, line 21 or Form 1040EZ, line 4 and 2013 pay
stubs to estimate.
19a. Estimate the U.S. income tax you will pay using 2012 IRS Form 1040, line
55 or Form 1040A, line 35 or Form 1040EZ, line 10. Don't include any FICA, selfemployment or other taxes from Form 1040. Don’t use the amount of “federal
income tax withheld” from a W-2 Form.
19b. If you are enrolled at least half-time in the first two years of
undergraduate study, you may be eligible to claim a Hope tax credit of up to
$2,500 based on the amount of qualified tuition and fee expenses you paid
or will pay during 2013. Students who do not qualify for the Hope credit may
qualify for a Lifetime Learning tax credit of up to $2,000 based on the amount
of qualified tuition and fee expenses paid during 2013. There are restrictions
about who is eligible for each tax credit. For more information, check with the
Internal Revenue Service (IRS) or your tax adviser.
Tax-exempt interest income — 2012 Form 1040,
line 8b or 1040A, line 8b
+ _____________
Payments to tax-deferred pension and savings
plans (paid directly or withheld from earnings),
including but not limited to, amounts reported
in Boxes 12a through 12d, codes D, E, F, G, H and S on the W-2 Form. Include untaxed payments to 401(k) and 403(b) plans.
+ _____________
Additional child tax credit — 2012 IRS Form 1040,
line 65 or 1040A, line 42
+ _____________
Workers’ Compensation
+ _____________
Veterans noneducational benefits such as Death
Pension, Disability, etc.
+ _____________
Housing, food and other living allowances paid
to members of the military, clergy and others
(including cash payments and cash value of
benefits)
+ _____________
Cash received or any money paid on the
student’s behalf, not reported elsewhere
on this form
+ _____________
VA educational work-study allowances
+ _____________
Any other untaxed income and benefits
+ _____________
Total (Enter in question 25e.)
$ _____________
Don’t include in the worksheet above:
• any income reported elsewhere on the PROFILE,
• money from student financial aid,
• “rollover” pensions and “rollover” IRA distributions,
• Workforce Investments Act educational benefits, or
• gifts and support, other than money, received from friends or
relatives.
26. Write in the total of your 2013:
• earnings from Federal Work-Study or other need-based work
programs,
• grant, fellowship, scholarship and assistantship aid that was
included in question 18 as adjusted gross income, and
• AmeriCorps benefits, including awards, living allowances and
interest accrual payments.
The total from question 26 will be subtracted from your total income in
calculating your eligibility for financial aid.
20. If you won't itemize deductions, or if you file Form 1040A or 1040EZ,
write in “0.”
21–22. Answer these questions whether or not you filed or will file a 2013
tax return. Use your 2013 W-2 forms; 2012 IRS Form 1040, lines 7, 12 and
18 or 1040A, line 7 or 1040EZ, line 1; or 2013 pay stubs and other income
documentation to estimate this amount.
23. Use 2012 IRS Form 1040 or 1040A, lines 8a and 9a or 1040EZ, line 2; 2013
Form(s) 1099, 1099-DIV and 1099-INT if you have received them; and your
2013 investment documentation to estimate your dividend and interest income
for 2013. Don’t include wages. If all or part of your interest income is from
the proceeds of sale of Series EE savings bonds, indicate the amount of such
interest income in Section Q.
3
Section C — Student’s Assets
Section D — Student’s Trust Information
Enter information about your (and if you are married, your spouse’s) assets
in questions 27 through 33. If you are divorced or separated and have jointly
owned assets, give only your portion of the assets and debts. If you (and your
spouse, if married) have assets owned jointly with someone else, give only
your (and your spouse’s) portion of the assets and debts.
34a. Write in the total value of all of your (and your spouse’s) trust accounts,
regardless of whether any of the income or principal is currently available.
Don’t include funds held in Section 529 prepaid tuition plans, such as the
Michigan Education Trust.
34b. Check “Yes” if you can withdraw interest or part of the principal from the
trust. Leave blank if you entered “0” in 34a.
Don’t include trust accounts in this section. Include them in Section D. With
the possible exception of questions 30b-c and 33, don’t leave any of these
questions blank. If a question doesn’t apply, write in “0.”
In questions 27–33, don’t include:
• student financial aid,
• personal or consumer loans or any debts that are not related to the
assets listed, or
• information about your parents’ assets.
29. On the worksheet below, write in how much your (and your spouse’s)
investments are worth today. The total is the answer to question 29. (If you are
required to provide parent data, assets that are held in Section 529 prepaid
tuition or college savings plans or Coverdell savings accounts should be listed
as parent assets in Section I. If parent data are not required, report these
assets in question 29.)
34c. Leave this question blank if you entered “0” in 34a.
Section E — Student’s 2013 Expenses
35. Write in the amount of child support you (and your spouse) paid or
expect to pay to a former spouse for dependent children living outside your
home. Don’t include child support you received for support of dependent
children living in your home.
36. You may leave this question blank if expenses are less than 3 percent of
total 2013 income, or if your parents paid your medical and dental expenses
in 2013.
Write in the amount of money you (and your spouse) paid or expect to pay in
2013 for medical and dental expenses, including insurance premiums. Don’t
include amounts covered by insurance or health insurance deductions for the
self-employed from 2012 IRS Form 1040, line 29. If you itemize deductions on
the U.S. income tax return, this amount is reported on 2012 Schedule A, line 1.
Then, write in how much you (and your spouse) owe on the investments.
Uniform Gifts to Minors (or similar accounts)
Stocks, stock options (if less than $0, enter $0),
bonds, savings bonds and mutual funds
Money market funds
Certificates of deposit
Nonqualified (nonretirement) annuities
Commodities
Precious and strategic metals
Installment and land sale contracts
(including seller-financed mortgages)
All other investments
Total (Enter in question 29.)
Worth
$_____________
Section F — Student’s Expected Summer/SchoolYear Resources for 2014-15
+_____________
+_____________
+_____________
+_____________
+_____________
+_____________
37a. Check “Yes” if you were released from active military service under a
condition other than dishonorable, if you are not a veteran now, but will be one
by June 30, 2014, or you are currently serving on active duty in the U.S. Armed
Forces for purposes other than training.
38a–d. Write in the information for the three-month summer of 2014 and the
nine-month school year of 2014-15. Don’t include any earnings from Federal
Work-Study.
+_____________
+_____________
$_____________
38d. Include the same kinds of income and benefits that you reported in
question 25a-e.
30a. If you (and your spouse) own a business or farm, write in the value
today. Include the value of land, buildings, machinery, equipment, livestock,
inventories, etc. Don’t include the home if it is part of the business or farm.
38e. Exclude any student financial aid that you expect to receive from the
colleges and universities to which you are applying.
Then write in what you owe on the business or farm. Include only the present
mortgage and related debts for which the business or farm was used as
collateral. If you (and your spouse) are not the sole owners of the business or
farm, write in only your (and your spouse’s) share of the total value and debt.
38f. If you cannot use tuition benefits at all schools, explain limitations in
Section Q.
38g. Give the best estimate of the amount of money that your parents plan
to pay toward your 2014-15 college expenses. College expenses include
tuition and fees, books and supplies, room and board, transportation, and
personal expenses. Don’t include contributions from your noncustodial parent
or amounts your parents plan to borrow.
30b. Leave this question blank if you (and your spouse) do not own a
business.
30c. Check “Yes” if the farm is your principal place of resi­dence and you
will claim on 2013 IRS Schedule F, line E that you “materially participated in
the farm’s operation.” Leave blank if you do not own a farm.
31. If you (and your spouse) own a home, write in how much the home is
worth. Use the price you could reasonably expect to receive for the home if it
were sold today. Don’t use assessed, insured or tax value. A “home” includes
a house, mobile home, condominium, etc. Renters write in “0.”
Then, write in how much you owe on the home, including the present
mortgage and related debts on the home. Don’t include interest due. Check
with the mortgage company if you’re not sure of the amount.
32. If you (and your spouse) own other real estate (including rental property,
land, second or summer homes), write in how much these investments are
worth today. Don’t include business or farm assets.
Then, write in how much you owe on other real estate.
33. Leave this question blank if you (and your spouse) do not own a home.
4
41a. Check the box indicating the current marital status of the parents who
give information on this form. For example, if your mother and stepfather
give information, check the box that says “remarried,” because your mother
has remarried.
✱ ✱ ✱ ✱ Important — Read Carefully ✱ ✱ ✱ ✱
Before completing Sections G–L as well as N and O, complete the following
worksheet. If you answer “Yes” to any question, skip Sections G–L as well as
N and O and go to Section M. If you answer “No” to all questions, complete all
of the remaining sections of the PROFILE Early Application. Some colleges may
ask you to complete Sections G–L as well as N and O even if you answered
“Yes” to one or more questions on the worksheet below. If you are a health
profession student applying for Federal Title VII financial aid, you must
complete Sections G–L as well as N and O.
Yes
42. Write in the two-letter abbreviation for your parents’ current state
of legal residence. (If that legal residence is outside the United States,
leave this question blank.) Your parents’ legal residence is their fixed and
permanent home. If your parents are separated or divorced, use the state of
legal residence for the parent whose information is reported on this form.
Section H — Parents’ Expenses
No
❏ ❏ 1. Were you born before Jan. 1, 1991?
❏ ❏ 2. Are you a veteran of the U.S. Armed Forces?
44. Write in the amount of child support that your parents paid or expect
to pay to a former spouse in 2013 and expect to pay in 2014 for dependent
children living outside your parents’ home. Don’t include child support received
by your parents for support of dependent children living in your parents’ home.
Will you be enrolled in a graduate or
❏ ❏ 3. professional
program in 2014-15?
❏
❏
4.
Are
you
married?
❏ ❏ 5. Are you an orphan or a ward of the court, or were
you a ward of the court until age 18?
❏
❏
6.
Do you have legal dependents (other than a spouse)?
45. Write in the total amount of educational loan repayments that your parents
made or expect to make in 2013 and expect to make in 2014. Include loans
obtained by your parents for their own education or for your or your siblings’
education. Don’t include loans that you or your siblings obtained for your own
education and that your parents have agreed to repay.
Section G — Parents’ Household Information
46. You may leave this question blank if your parents' expenses are less than
3 percent of total 2013 income (taxed and untaxed reported in Section K).
Write in the amount of money your parents paid or expect to pay in 2013 and
expect to pay in 2014 for medical and dental expenses, including insurance
premiums. Don’t include amounts covered by insurance or health insurance
deductions for the self-employed from 2012 IRS Form 1040, line 29. If your
parents itemize deductions on their U.S. income tax return, this amount is
reported on 2012 Schedule A, line 1.
This section is to be filled out by the student’s parents. Read the
descriptions below. Choose the one that is true and follow the instructions.
• Your biological or adoptive parents are both living and married
to each other. Answer the questions on the rest of the form about
them.
• Your biological or adoptive parents are divorced or separated.
Answer the questions on the rest of the form about the parent you
lived with more during the past 12 months. If you did not live with
one parent more than the other in the past 12 months, give answers
about the parent who provided the most financial support during that
time, or during the most recent calendar year that you actually were
supported by a parent. (Support includes money, gifts, loans, housing,
food, clothes, car, medical and dental care, payment of college costs,
etc.) See information about stepparents below.
• Your biological or adoptive parent is widowed or single.
Answer the questions on the rest of the form about your widowed or
single parent.
If you have a stepparent: If the parent counted above has married
or remarried as of today, you must also include information about your
stepparent. If you are giving information about a stepparent, note that
whenever the word “parents” is used on the rest of the form, it also means
your stepparent.
• You have a legal guardian. Answer the questions on the rest of the
form about your legal guardian. (A legal guardian is a person who is
appointed by a court to be your legal guardian in a legal relationship
that will continue after June 30, 2015, and who is directed by a court
to support you with his or her own financial resources.)
39. Always include your parents and yourself, even if you don’t live
with your parents. Include other children if they will get more than half
their support from your parents from July 1, 2014, through June 30, 2015.
Include other people only if they now live with your parents, and now get
more than half their support from your parents, and will continue to get this
support between July 1, 2014, and June 30, 2015. (Support includes money,
gifts, loans, housing, food, clothes, car, medical and dental care, payment of
college costs, etc.)
47a. Write in the amount of money that your parents paid or expect to pay
in 2013 and expect to pay in 2014 for elementary, junior high and high school
tuition for family members who were included in question 39. (Tuition doesn’t
include room, board, books, transportation, etc.) Don’t include tuition paid by
scholarships. Also, don’t include any tuition paid for the student named on this
form or any tuition paid for preschool or college.
47b. Write in the number of dependent children for whom the amount listed in
question 47a was paid in 2013 and will be paid in 2014. Don’t include the
student named on this form or any person who was not included in
question 39.
40. Always count yourself as a college student. Do not include your
parents. Include other family members as college students only if they are
planning to enroll at least half-time in 2014-15
in a program that leads to a degree or certificate.
5
Section I — Parents’ Assets
52a. If your parents own a business, write in the value today. Include the
value of land, buildings, machinery, equipment, inventories, etc.
Give information about parents’ assets in questions 48–54. Don’t leave any
of these questions blank unless instructed otherwise. If a question doesn’t
apply to your parents, write in “0.” If you are giving information for only
one parent and that parent has jointly owned assets, give only that parent’s
portion of the assets and debts. If your parents have assets jointly owned
with someone else, give only your parents’ portion of the assets and debts.
Be sure to include information about assets held in trust for your parents.
Then write in what your parents owe on the business. Include only the
present mortgage and related debts for which the business was used
as collateral. If your parents are not the sole owners, write in only your
parents’ share of the total value and debt.
52b. Leave this question blank if your parents do not own a business.
53a. If your parents own a farm, write in the value today. Include the value
of land, buildings, machinery, equipment, livestock, inventories, etc. Don’t
include the home if it is part of the farm.
In questions 48–54, don’t include:
• personal or consumer loans or any debts that are not related to the
assets listed,
• the value of retirement plans (pension funds, annuities, IRAs, Keogh
plans, etc.), or
• student financial aid.
Then write in what your parents owe on the farm. Include only the present
mortgage and related debts for which the farm was used as collateral. If your
parents are not the sole owners, write in only your parents’ share of the total
value and debt.
53b. Check “Yes” if the farm is your parents’ principal place of residence
and your parents will claim on their 2013 Schedule F, line E, that they
“materially participated in the farm’s operation.” Leave blank if your parents
do not own a farm.
48. Enter the total balance of your parents’ cash, savings and checking
accounts, as of today.
49. Include funds in custodial accounts or other savings and investment
accounts held in the names of your brothers and sisters who are under age
19 and not enrolled in college. Do not include funds held in Section 529
college savings or prepaid tuition plans. Include these in question 51 (see
instructions below).
54. If your parents own other real estate (including rental property, land,
second or summer homes), write in how much these assets are worth
today.
Then write in how much your parents owe on this real estate, the year
purchased and the purchase price. If they own more than one property, write in
Section Q the year each was purchased and its purchase price.
50. If your parents own a home, write in how much the home is worth. Use
the price they could reasonably expect to receive for their home if it were
sold today. Don’t use assessed, insured or tax value. A “home” includes a
house, mobile home, condominium, etc. Renters write “0” in 50a, and write
in the amount paid each month for rent in 50d.
Section J — Parents’ 2012 Income and Benefits
55–58. All questions in this section refer to your parents’ 2012 income and
benefits. For questions 55–57, use figures from a completed 2012 U.S.
income tax return if one was filed.
Then write in how much your parents owe on the home, including the
current mortgage and related debts on the home. Don’t include interest due.
Check with the mortgage company if you’re not sure of the amount.
Next, write in the year your parents purchased the home and the purchase
price. Finally, write in the amount paid each month for home mortgage,
excluding property tax.
51. If your parents have investments, write on the following worksheet how
much their investments are worth today. The total is the answer to question
51. Don’t include savings given in question 48 or assets reported in question
49. Include funds held in Section 529 college savings or prepaid tuition
plans or Coverdell savings accounts established for you and your brothers
and sisters. These should not be reported as a student asset in Sections C
or D. If assets held in Coverdell savings accounts are included, note this and
the amount in the student’s account in Section Q.
Then, write in how much your parents owe on their investments.
Trust funds
Stocks, stock options (if less than $0 report $0),
bonds, savings bonds and mutual funds
Money market funds
Certificates of deposit
Coverdell savings accounts
Section 529 college savings or prepaid tuition plans Commodities
Nonqualified (nonretirement) annuities
Precious and strategic metals
Installment and land sale contracts
(including mortgages held)
All other investments
Total (Enter in question 51.)
Worth
$ _____________
+ _____________
+ _____________
+ _____________
+ _____________
+ _____________
+ _____________
+ _____________
+ _____________
+ _____________
+ _____________
$ _____________
6
Section K — Parents’ 2013 Income and Benefits
67b. Write in the total amount of Temporary Assistance for Needy Families
(TANF) your parents received or expect to receive for 2013; don’t report
monthly amounts. Don’t include food stamps or subsidized housing.
All questions in this section refer to your parents’ 2013 income and benefits.
The tax line references below are for 2012. Your parent(s) should use their
2012 return and 2013 records to estimate their income and benefits for 2013.
67c. Write in the total child support your parents received or expect to
receive for 2013; don’t report monthly amounts. Don't include amounts they
paid. Don’t include foster care or adoption payments.
59. Check only one box to indicate which IRS form was filed or will be filed
for 2013. If your parents filed or will file a 1040 but were/are eligible, based
on their financial circumstances, to file a 1040A or a 1040EZ, check box “3.”
In general, a person is eligible to file a 1040A or 1040EZ if the person
makes less than $100,000, does not itemize deductions, does not receive
income from his or her own business or farm, and does not receive alimony.
A person is not eligible if he or she is self-employed or is required to file
Schedule D for capital gains. If your parents filed or will file a 1040 only
to claim Hope or Lifetime Learning tax credits and they would have been
eligible to file a 1040A or 1040EZ, check box “3.”
67d. Use 2012 IRS Form 1040, total of lines 28 and 32 or Form 1040A, line
17 and investment income documentation for 2013 to estimate your 2013
payments to deductible IRA and/or SEP, SIMPLE or Keogh plans. Don’t include
contributions to Roth IRAs or Coverdell savings accounts.
67e. Write in payments to tax-deferred pension and savings plans (paid
directly or withheld from earnings), including but not limited to, amounts
reported on W-2 forms, in Box 12a through 12d, codes D, E, F, G, H and S.
Include untaxed payments to 401(k) and 403(b) plans.
If you are giving information for only one parent and that parent filed or
will file a joint tax return for 2013, give only that parent’s portion of the
exemptions, income and taxes asked for in questions 60 through 67.
67f. Use the tuition and fees deduction found on 2012 IRS Form 1040, line
34 or 1040A, line 19 to estimate your parents’ deduction for 2013.
67g. Write in amounts withheld from wages for dependent care and medical
spending accounts. These amounts are usually reported on W-2 forms.
If your parents are married and they filed or will file separate tax returns for
2013, be sure to include both parents’ exemptions, income and taxes paid in
questions 60 through 67.
67i. Write in the amount of income and benefits received for housing, food
and other living allowances paid to members of the military, clergy and
others (including cash payments and cash value of benefits).
60. If your parents used or will use the 1040EZ and checked either "you"
or "spouse" on Form 1040EZ, line 5, use the 1040EZ worksheet line F to
estimate the number of exemptions. If your parents checked “No,” enter
“01” if your parent is single or “02” if your parents are married.
67l. Fill out the worksheet below and enter the total in question 67l.
61. Adjusted gross income (AGI) is the taxable income, before exemptions
and deductions, reported on your parents’ federal tax return. Use their 2012
IRS Form 1040, line 37 or Form 1040A, line 21 or Form 1040EZ, line 4, and
2013 pay stubs to estimate.
Untaxed portions of IRA distributions from IRS
forms (excluding “rollovers”)
Untaxed portions of pensions from IRS forms
(excluding “rollovers”)
Additional child tax credit — 2012 IRS Form
1040, line 65 or 1040A, line 39
Veterans noneducational benefits such as
Disability, Death Pension, Dependency and
Indemnity Compensation
Workers’ Compensation
Cash received or any money paid on your behalf
(don’t include child support)
Black Lung benefits, Refugee Assistance
Credit for federal tax on special fuels
Untaxed portions of Railroad Retirement benefits
Any other untaxed income and benefits
Total (enter in question 67l)
61a–f. The total of questions 61a–e minus f equals the answer to question
61 (adjusted gross income) above.
61f. Estimate their 2013 adjustments to income using 2012 IRS Form 1040,
line 36 or 1040A, line 20. (Don’t write in your parents’ adjusted gross
income.)
62a. Estimate the 2013 U.S. income tax they will pay using 2012 IRS Form
1040, line 55 or Form 1040A, line 35 or Form 1040EZ, line 10. Don't include
any FICA, self-employment or other taxes from Form 1040. Don’t use the
amount of “federal income tax withheld” from a W-2 Form.
62b. A family may be eligible to claim a Hope tax credit of up to $2,500 for
each eligible family member enrolled at least half-time in the first two years
of undergraduate study, provided that the student is claimed as a dependent
by the taxpayer claiming the credit. The amount of the credit is based on
the qualified tuition and fee expenses paid by the taxpayer. A family may
also claim a Lifetime Learning tax credit of up to $2,000 per year for all
eligible family members. A family may not claim both a Hope and a Lifetime
Learning tax credit for the same student. There are restrictions about who
is eligible for each tax credit. For more information, check with the Internal
Revenue Service (IRS) or your tax adviser.
Amount
$ _____________
+ _____________
+ _____________
+ _____________
+ _____________
+ _____________
+ _____________
+ _____________
+ _____________
+ _____________
$ _____________
Don’t include:
• any income reported elsewhere on the PROFILE,
• money from student financial aid,
• Workforce Investments Act educational benefits,
• gifts and support, other than money, received from friends or relatives,
or
• veterans' educational benefits (GI Bill, Dependents Educational Assistance
Program, VA Vocational Rehabilitation Program, VEAP Benefits, etc.).
63. If your parents won't itemize deductions or if they file Form 1040A or
1040EZ, write in “0.”
64–65. These questions ask for information about how much your parents
earned from working. Answer these questions whether or not your parents
filed or will file a tax return. Use their 2013 W-2 forms; 2012 IRS Form 1040,
lines 7, 12 and 18 or 1040A, line 7 or 1040EZ, line 1; or 2013 pay stubs and
other income documentation to estimate this amount.
67a. Write in the amount of untaxed social security benefits (including
Supplemental Security Income) that your parents received or expect to
receive in 2013 for all family members except you, the student. Don’t
include any benefits reported in question 61. Don’t give monthly
amounts. Be sure to include the amounts that your parents received
for your siblings.
7
Section L — Parents’ 2014 Expected Income and
Benefits
Section N — Parents’ Information
This section is to be filled out by the parent(s) completing this form. For example,
if the parent with whom you live has remarried, give information for the
stepparent as well as the parent.
In this section, report the amount of income and benefits your parents expect
to receive during 2014. Explain in Section Q any increases or decreases of
10 percent or more.
Section O — Information About Noncustodial
Parent
68–69. Include wages, salaries and tips.
70. Estimate the total amount of other taxable income that your parents will
report on their 2014 IRS Form 1040, 1040A or 1040EZ. Include interest and
dividend income and any other taxable income. Don’t include any income
reported in questions 68 and 69.
This section collects information about your noncustodial parent. It is to be filled
out by the parent who is completing this form if your biological or adoptive
parents are divorced or separated or were never married to each other, even
if one or both have remarried. If information about the noncustodial parent is
unavailable, explain why in Section Q.
71. These are the same types of income and benefits that were asked for in
question 67a–l.
Section P — Student’s Financial Aid Status
Section M — Family Member Listing
76. If you are a high school senior or have never attended college before,
check box “1.” If you are planning to transfer to another institution, check
box “1.”
72. Be sure to complete all parts of this question, giving the information
asked for in each column but leaving the shaded areas blank. Print
clearly; be sure all entries are legible. Include information about family members
reported in question 11 or 39. If there are more than eight family members, list
first those who will be in school or college at least half-time. List the others
in Section Q. If information is reported in both 11 and 39, give information
first about the members of the parents’ household, followed by information
about members of the student’s household. Be sure to include the age and
relationship code for each family member. In the 2013-14 school year
section, write in the name of each school for each family member attending
school, including a private preschool, a public or private elementary or secondary
school, or a college or graduate school. Follow the instructions for 38g when
completing the 2013-14 Parents’ Contribution column.
In the 2014-15 College or University column, write in the name of the college or
graduate school each family member will attend, as well as the type of school,
using the code numbers from the following table:
1
2
3
4
5
6
=
=
=
=
=
=
Section Q — Explanations/Special Circumstances
Use this space to explain any unusual expenses. Also, explain special
circumstances that may affect your or your family’s ability to pay college
expenses, such as loss of employment, serious illness or natural disaster.
Certification. Everyone providing information on the form must sign it.
Everyone signing the form is certifying that all the information on the form is
correct.
Make a copy of the completed application for your own records. Keep these
instructions. You may need them later.
two-year public college
two-year private college
four-year public college/university
four-year private college/university
graduate/professional school
proprietary school
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on the Web: www.collegeboard.org.
13b-7871
8
2014INST