TaxACT has developed a worksheet to assist you with the preparation of the Free Application for Federal Student Aid (FAFSA) online application. Based on the information entered into TaxACT (and the additional information entered in the FAFSA section) the FAFSA Tax Summary Worksheet will provide you with the applicable income tax information needed for you to complete the FAFSA online application at www.fafsa.ed.gov.
To access the College Student Financial Aid Report (the worksheet with the tax information needed to fill out the FAFSA online application), follow the steps below.
Please have your tax return completed in TaxACT before filling out the FAFSA Summary Worksheet to ensure an accurate estimate.
From within your TaxACT return (Online or Desktop) click on the Review tab
Click College Student Financial Aid just below the blue tabs
Click Yes that you want to complete the FAFSA Tax Summary Worksheet
The program will proceed with the interview questions for you to enter or review the appropriate information.
Once you have completed the information required, you will have an option to Print Report.
The FAFSA online application can be completed with the information you have in the printed report from TaxACT. For specific questions regarding FAFSA, call the Federal Student Aid Information Center at 800-433-3243.