What Year Taxes Do I Need For Fafsa 2025 26

Hannah Arendt

2 min read

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29-11-2024

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Planning for college can be a complex process, and understanding the financial aid requirements is a crucial part of it. One of the most important documents for securing federal student aid is the Free Application for Federal Student Aid (FAFSA). But knowing which tax year's information to use can be confusing. This guide clarifies which tax returns you'll need for the 2025-2026 FAFSA application.

FAFSA 2025-2026 Tax Year Requirements

The 2025-2026 FAFSA will require your 2023 tax information. This means you'll need your 2023 federal income tax return (Form 1040 or equivalent) and any relevant supporting schedules.

Important Note: The FAFSA uses the tax information from two years prior to the academic year. Therefore, for the academic year 2025-2026, you'll use the 2023 tax year data.

What if My Taxes Aren't Filed Yet?

If your 2023 taxes aren't completed by the time you need to submit your FAFSA, you can initially use your estimated tax information. However, you must update your FAFSA with your finalized tax information as soon as it's available. Inaccuracies can lead to delays in processing your aid, or even loss of eligibility.

Information Needed Beyond Tax Returns

Remember that the FAFSA request more than just tax information. You'll also need:

• Social Security numbers: For both the student and parents (if applicable).
• Driver's license numbers (if applicable): This is requested for verification purposes.
• Federal tax information: Includes W-2 forms, 1099 forms, and other relevant documentation.
• Bank account information: Direct deposit information is helpful for receiving disbursement of funds.
• Student's current year high school transcript: For prospective first-time college students, this is often required.

Where to Access the FAFSA Form

The FAFSA is available online through the official government website. Accessing it directly through the official site helps ensure you're using the correct and secure form.

Timing is Key

Completing the FAFSA as early as possible is highly recommended. Many colleges and universities have priority deadlines, and submitting your application early ensures you're considered for all available aid. Be mindful of your institution’s specific deadlines.

This information is for general guidance only and does not constitute financial or legal advice. Always consult the official FAFSA website for the most current and accurate information.