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This worksheet is required by UCM Student Financial Services to verify untaxed income and benefits received by students and their spouses during the 2020 calendar year.

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What is student untaxed income?

Student untaxed income refers to income that a student receives that is not subject to federal income tax. This can include certain types of financial aid, grants, child support, and other non-taxable sources of income.

Who is required to file student untaxed income?

Students who are applying for financial aid, particularly through the FAFSA (Free Application for Federal Student Aid), are required to report any untaxed income they have received. This is important for determining their eligibility for need-based aid.

How to fill out student untaxed income?

To fill out student untaxed income, students should carefully review the FAFSA form instructions and report all applicable untaxed income in the appropriate section, ensuring to provide accurate and complete information about non-taxable sources.

What is the purpose of student untaxed income?

The purpose of reporting student untaxed income is to provide a complete financial picture to financial aid offices, allowing them to accurately assess a student's financial need and eligibility for financial aid.

What information must be reported on student untaxed income?

Students must report all untaxed income such as child support received, payments to tax-deferred pension and savings plans, worker's compensation, and any other specified non-taxable income as outlined in the FAFSA instructions.

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