What tax forms are needed for the FAFSA application?

I'm getting ready to submit my FAFSA and I keep hearing different things about which tax forms are necessary. I know my parents and I need to provide some tax information, but I'm unsure which specific forms are required. Can anyone clarify if it's just the 1040 form or if there’s more that I should be gathering, like W2s or other supporting documents? I'm just trying to make sure everything is in order before I submit it.

To fill out the Free Application for Federal Student Aid (FAFSA), you and your parents (if you're a dependent student) will primarily need your federal income tax returns. Typically, this would be the most recently completed tax return, which is usually the tax return from two years prior to the academic year you’re applying for financial aid.

For example, if you are filling out the FAFSA for the 2024-2025 academic year, you will need tax information from 2022. The tax return you would generally need is the IRS Form 1040, which includes the adjusted gross income and taxes paid.

Here is a brief list of some of the documents and information that might be needed:

- Your Social Security Number (and your parents' if you're a dependent)

- Your parents' and your federal income tax returns (usually IRS Form 1040)

- Records of untaxed income, such as child support received or payments to tax-deferred pension and retirement savings plans

- Current bank statements and records of stocks, bonds, and other investments

Although the FAFSA primarily asks for information found in the 1040, it's a good idea to also have W-2 forms and other records of money earned on hand. This is because these documents can be useful in helping confirm the data you enter. But in general, they are typically not required if you have the completed 1040.

Remember to check the FAFSA website or consult with your school counselor for the most up-to-date information as FAFSA requirements can change.