Depending on the marital status of your parent(s), one or two tabs to enter financial information will appear. Each tab represents the full household of your parent(s). For each household, enter income and other dollar amounts, rounding to the nearest whole dollar. Enter income for all parents in the household, including a parent’s spouse (if applicable), even if they file taxes separately. The following components make up the Parents’ Financial Information page.
Family Size
To enter your parents’ family size, enter “1” for your parent, “1” for your other parent or parent’s spouse (if applicable), and “1” for each dependent listed on your parents’ 2023 IRS 1040 tax form.
Taxable Income
Have your parent(s) filed their federal tax return(s) for 2023?
If your parents have already filed their 2023 tax return, select “Yes” and enter their adjusted gross income as it appears on their tax return.
If your parents intend to file a tax return but have not yet done so, select “Not Yet.” Before the April federal tax filing deadline (typically, April 15), the AAMC will accept IRS W-2 and 1099 income data and forms in place of an IRS 1040 tax form. However, the AAMC may require the federal IRS 1040 tax form before the tax filing deadline to verify the family size listed on the Fee Assistance Program application. After the federal tax filing deadline, you cannot select “Not Yet.” If your parents are required to file a tax return, even if they filed for an extension, they must submit an IRS 1040 tax form to the Fee Assistance Program before your application can be processed. If your parents are not required to file a tax return, select “Will Not Be Filing.” However, if your parents have any earned income, you are required to enter the income listed on their IRS W-2 or 1099 forms.
Note: If your parents are married or separated and did not or will not file a joint tax return, you are still required to enter the sum of their individual incomes in the fields where income is required. You are also required to provide the IRS 1040 tax form for both parents if they are married but filed tax returns separately. Be sure all appropriate parties sign and date their IRS 1040 tax forms before submitting them.
Have your parent(s) received a W-2 and/or 1099 forms from their employer(s) for 2023? Will your parent(s) be receiving W-2 and/or 1099 forms from their employer(s) for 2023?
Employers typically provide either a W-2 or 1099 form to full- and part-time employees and/or contractors around Feb. 1 of each year. These forms summarize all wages, tips, and other earnings. Ask your parents to contact their employer if they are unsure if they have received, or will receive, such a form.
If you have selected “Not Yet” or “Will Not be Filing” as your parents’ tax filing status, input the total income they earned from work as shown on their W-2 or 1099 forms.
Be sure to document all earned income. Submitting false information or omitting required or material information could result in an investigation, which may impact your eligibility for fee assistance.
Housing and Food Assistance
Some people receive housing assistance and live with relatives or are provided housing by a relative or friend. If any of these scenarios applies to your parents, select “Yes” for this question. If your parents did not receive assistance from a relative or friend, or their housing assistance was provided through a federal, state, or local welfare program, select “No.”
The Housing/Food Assistance Calculator will appear if you select “Yes” for this question. Use this calculator to determine the value of your parents’ housing and food assistance. Estimate what they would have paid monthly for rent based on market rates for similar housing in their area. Use the same method to estimate the amount of food assistance they received as a dollar amount.
If your parents received housing and/or food assistance from a relative, friend, or other entity, you must submit a signed Housing and Food Assistance Letter that documents the assistance they received. The letter must be signed with either a handwritten or a digital signature that includes an audit trail, such as a DocuSign or Adobe signature.
Income Earned While Living in Another Country
If your parents lived and worked outside of the United States in 2023 and received income that is not reflected on their IRS W-2 or 1099 forms, select “Yes” and enter the amount of money your parents earned. Convert this income to U.S. dollars.
If your parents received income while residing in a country other than the United States, then you must submit a Foreign Income Letter, signed by your parents, that documents the income they earned abroad. The letter must be signed with either a handwritten or a digital signature that includes an audit trail, such as a DocuSign or Adobe signature.
Social Security Benefits
Enter the full amount of benefits your parents received from the Social Security Administration in 2023. In addition to retirement benefits, be sure to include survivor benefits, disability benefits, or other, less common, benefits they received. Enter “0” if your parents did not receive any benefits from the Social Security Administration.
Federal, State, and Local Welfare Programs
Enter the total value of food stamps (SNAP), housing vouchers, Aid to Families with Dependent Children (AFDC), Temporary Assistance for Needy Families (TANF), or other welfare program benefits your parents received last year.
If your parents received such benefits, you must submit a formal statement of the benefits they received from the government agency that administers the benefit program(s). Enter “0” if they did not receive benefits from any other federal, state, or local welfare programs.
Financial Gifts
Enter the combined value of gifts of cash that your parents received last year if that total value is greater than $200. This amount includes one-time gifts of cash as well as cash provided throughout the year for general living expenses. For example, if a family friend gave your parents $100 per month for general living expenses for 12 months, enter $1,200 in this section. Similarly, record one-time gifts of cash.
Enter “0” if your parents did not receive cash gifts or their combined total was less than $200; you do not need to report such gifts.
If your parents received cash totaling more than $200 last year, you must submit a signed Financial Gift Letter that documents the amount they received. The letter must be signed with either a handwritten or a digital signature that includes an audit trail, such as a DocuSign or Adobe signature.
Child Support
Enter the sum of all child support payments your parents received. Do not include information about any child support payments your parents made.
If your parents received child support payments, you must submit an official document that details the amount they received last year. Enter “0” if they did not receive child support payments.
Alimony or Spousal Support
Enter the total alimony or spousal support your parents received. Do not include information about any spousal support payments they made.
Note: If you indicated that your parents have already filed their federal tax return, you will not see this question because the income is included in their taxes.
If your parents received spousal support payments, you must submit a signed, formal document that details the amount they received last year. Enter “0” if they did not receive alimony or spousal support.
Income or Financial Support Received From Other Sources
Enter the total amount of income or other financial support that your parents received last year that you have not reported in the previous sections (e.g., stimulus checks, veterans benefits, or an inheritance).
If your parents received income or financial support from other sources, you must submit a formal document that details the amount they received in the previous year. Enter “0” if they did not receive income or financial support from other sources.
Note: If you have two living parents, or your parent(s) has remarried, proof of income is required for both parents. If you only have one parent with income documentation and will not be able to provide proof of income for the second parent, you must provide a letter from the second parent stating the source of their income (e.g., they are supported by their spouse). This letter must be signed and dated by the second parent and uploaded to “Other Documentation.”