Income Estimator – Parents

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Click the Income Estimator button above question 85 to access the Parents’ Income Estimator worksheet. This worksheet can be used if a Federal Income Tax Return has not been filed and you want to provide an estimate of the student’s parents’ adjusted gross income (AGI). Enter the whole dollar amounts that are requested for each item. If you do not have an exact figure, estimate the amount to the best of your ability. The worksheet automatically adds and subtracts the figures entered to arrive at an estimate of the AGI. Upon completing the worksheet, click the Next button at the lower right part of the Income Estimator Worksheet page to return to the application. The total from the worksheet will pre-fill item 85 on the application.

Remember: Round to the nearest dollar and do not include commas or decimal points.

If you have questions about amounts or whether or not a particular item needs to be included, consult either a United States IRS tax form or a tax preparation specialist.

As soon as the tax return is completed, a correction showing the actual amount listed on the income tax form must be filed, if the estimated amount is different.

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