FAFSA - Change in Calculation from Year to Year

To allow families in need of financial aid to complete their FAFSA sooner, the financial information from the previous year's return is used. For the 2019-20 academic year, students and their families will use their financial information from the 2018 tax return to complete the FAFSA.

In TaxAct, if you import your 2018 return to your 2019 return, this information will be imported into your FAFSA Tax Summary Worksheet.

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. 

  1. From within your TaxAct return (Online or Desktop) click Review. On smaller devices, click the menu icon in the upper left-hand corner, then select Review
  2. Click College Student Financial Aid 
  3. Click Yes that you want to complete the FAFSA Tax Summary Worksheet
  4. The program will proceed with the interview questions for you to enter or review the appropriate information.
  5. 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 1-800-433-3243.