Regarding financial aid/FAFSA - what do you enter for 'Adjusted Gross Income'?

Gross income is $60,000, but I have a ton of deductions from employee/business expenses (like $28,000!) making the adjusted income on my taxes around $30,000. I have read somewhere that you can deduct moving expenses (relocated for job), and another place that you can deduct charitable donations too (which we have a lot of, also) Can I deduct these expenses and apply them to make a lower AGI on the FAFSA?

Also does anyone know anything about the 'displaced worker' on the form? I think I qualify for that as I was laid off from my position and my spouse does not work outside the home.

Any info from anyone with experience on this? THANKS

Remember AGI and Gross income are different. The fafsa wants your AGI, not gross....directly from your 2008 tax form.

The AGI you put on the fafsa already has all of the deductions you have mentioned taken out. Hence why its called "adjusted", so you do not need to subtract anything from your AGI number when you get it off your tax form. I would suggest you do your taxes as soon as possible, this will make completing the fafsa much easier and you won't have to go back and make corrections when you discovered a mistake in your estimates.

It sounds like you might meet the definition of a displaced worker according to the form. Make sure you mark yes on this question.