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Thursday, 24 May 2007

Does financial aid have an impact on how I file taxes? -

I want to apply for financial aid for college but I have concerns. I m worried because even though I m married, I file single to get my earned income tax credit. I use a different address and my husband files single also( he makes too much money for us to get earned income credit). Also should I use my current address( we own this house together)?|::::|You are required to file as married filing separately and to file your financial aid married filing separately as well. It is illegal to file as a single UNLESS you were divorced or unmarried on the last day of last year. I ve bookmarked this site... http://www.BestFinancialAid.info/ All the best to you.|::::|Since you are legally married you will be required to report both your and your husband s income on the fafsa application. It doesn t matter that you file your taxes separately. On the fafsa both of your information must be listed. If you have filed your taxes under quot;questionablequot; circumstances you will be asked about this as well and be made to correct it if it is determined to be wrong before you are eligible for any federal grants or loans. Maybe you could use that EIC to pay for your schooling instead.... or you could leave it for your kids when you and your husband are both in jail for tax fraud.|::::|You will have to report it at the end of the year. It has nothing to do with earned income. It is not earned income. It is a free grant.

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