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The FAFSA asks for very detailed
information about your finances and your federal tax returns, which
is why you should complete your taxes before applying for federal
aid. Once you’ve completed your tax return, answering more
complicated questions on your FAFSA is just a matter of transferring
numbers from one worksheet to another.
Here’s a list of items you’ll encounter on your FAFSA,
and where you can find them on your tax return:

If you’re a dependent
and applying for financial aid, you’ll have to provide your
parents’ or legal guardian’s financial information in
addition to your own on the FAFSA. If you’re married and file
your taxes jointly, you’ll have to include
your spouse’s information alongside your own.
The FAFSA will also ask for information on your untaxed income.
That includes earned income credit, any child support or welfare
benefits you may receive, as well as income from municipal bonds,
other tax-exempt investments, and your retirement contributions.
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