There is only one upload step for each individual for whom w-2 forms have been requested. If multiple w-2 forms are uploaded for the same individual, the school user adds the wages from the w-2 forms together and puts the wages is in the appropriate document value field. The same process is completed for tax deferred pension and savings amounts found in box 12 codes D, E, F, G, H or S of the w-2 forms.

 

Lines from Tax Transcript

Please review the table below that contains the lines from the tax transcript matched to the ISIR field required for verification. Printable versions are available below.


YYYY represents the tax year indicated on the ISIR:

For 2019-2020, YYYY is 2017

For 2020-2021, YYYY is 2018


Please note: Due to the change in the IRS Form 1040 between 2017 and 2018, some ISIR/FAFSA Fields do not apply to all tax filing years. These are notated in the chart if only applicable for specific FAFSA/ISIR years or tax years.


Beginning with 2018, IRS Forms 1040A and 1040EZ are no longer used. 


Tax Transcript Lines


ISIR Field  - Student

IRS Tax Return Transcript Line

ISIR Field - Parent

Student’s Type of YYYY Tax Form Used?

Required item is found on IRS tax transcript labeled “Form Number”

Parents’ Type of YYYY Tax Form Used?

Student’s Tax Return Filing Status

Required item is found on IRS tax transcript labeled as “Filing Status”

Item found on IRS Form 1040X labeled “Amended Return Filing Status”

Parents’ Tax Return Filing Status

Student Eligible To file 1040A or 1040EZ

(for FAFSA/ISIR Award Years 2019-2020 and Prior)

An individual is generally eligible to file a 1040A or 1040 EZ if they meet the following requirements:

  • Taxable Income is less than $100,000
  • Does not itemize deductions (on tax transcript Standard Deduction amount will be 0 for itemized deductions)
  • Does not have business or farm income
  • Does not receive alimony
  • Is not required to file a schedule D for capital gains
  • For additional requirements for filing a 1040A or 1040EZ please view the requirements here

Parents Eligible To file 1040A or 1040EZ

(for FAFSA/ISIR Award Years 2019-2020 and Prior)

Student Filed a Schedule 1?

(for FAFSA/ISIR Award Years 2020-2021 and Beyond)

The student/parent is instructed to answer “No” if they either 1) did not file a schedule 1 or 2) only filed a Schedule 1 to report one or more of the following exceptions:

  • Other Income (to report Alaska Permanent Fund Dividend may not be negative value)
  • Capital Gain
  • Unemployment compensation
  • Education Expenses
  • IRA Deduction
  • Student Loan Interest deduction

Parents Filed a Schedule 1?

(for FAFSA/ISIR Award Years 2020-2021 and Beyond)

Student’s Adjusted Gross Income from IRS Form

Required item is found on IRS tax transcript labeled “Adjusted Gross Income Per Computer”

Item found on IRS form 1040X Line 1

Parents’ Adjusted Gross Income from IRS Form

Student’s U.S. Income Tax Paid

Required item is found on IRS tax transcript:

  • Form 1040 - "Income Tax After Credits Per Computer" less "Excess Advance Premium Tax Credit Repayment Amount"
  • Form 1040A - "Tentative Tax Per Computer" less "Total Credits Per Computer"(tax year 2017 and prior)
  • Form 1040EZ - "Total tax Liability TP Figures Per Computer" less "Healthcare: Individual Responsibility"(tax year 2017 and prior)
  • Form 1040X - Line 8      
  • *For all transcripts, enter "0" (zero), if taxes paid is negative.

Parents’ U.S. Income Tax Paid

Student’s Exemptions Claimed(for FAFSA/ISIR Award Years 2019-2020 and Prior)

Required Item is found on IRS tax transcript labeled “Exemption Number”

If exemptions were adjusted on 1040X an exemption number will appear in line 4

Parents’ Exemptions Claimed(for FAFSA/ISIR Award Years 2019-2020 and Prior)

Student’s Income Earned from Work

Item is found on:

-W-2 Form Box 1

-IRS Wage and Income Transcript Wages, Tips and other Compensation

-IRS tax transcript if filing status is not Married Filing Jointly:

Form 1040: Wages, Salaries, Tips, ETC + Business Income or Loss: SCH C per Computer + Farm Income or Loss (Schedule F) Per Computer

Form 1040A: Wages, Salaries, Tips, ETC(tax year 2017 and prior)

Form 1040EZ: Wages, Salaries, Tips, ETC(tax year 2017 and prior)

Parent 1 Income Earned from Work

Spouse’s Income Earned from Work

Item is found on:

  • W-2 Form Box 1
  • IRS Wage and Income Transcript Wages, Tips and other Compensation
  • IRS tax transcript if filing status is not Married Filing Jointly:

 

Form 1040: Wages, Salaries, Tips, ETC + Business Income or Loss: SCH C per Computer + Farm Income or Loss (Schedule F) Per Computer

 

Form 1040A: Wages, Salaries, Tips, ETC (tax year 2017 and prior)

 

Form 1040EZ: Wages, Salaries, Tips, ETC (tax year 2017 and prior)

Parent 2 Income Earned from Work

Student’s Education Credits

Required Item is found on IRS tax transcript labeled “Education Credit Per Computer”

If the student has education credits on the 1040X line 14 will have box 8863 checked

Parents’ Education Credits

Student’s Tax-Exempt Interest Income

Required Item is found on IRS tax transcript labeled “Tax-Exempt Interest”

Parents’ Tax-Exempt Interest Income

Student’s IRA Deductions and Payments

  • Required Item is found on IRS tax transcript:
     Form 1040 - by taking” KEOGH/SEP Contribution Deduction” + “IRA Deduction Per Computer”
  • Form 1040A – “IRA Deduction Per Computer”(tax year 2017 and prior)

Parents’ IRA Deductions and Payments

Student’s Untaxed Portions of Pensions (for FAFSA/ISIR Award Years 2019-2020 and Prior)

Required Item is found on IRS tax transcript by taking “Total Pensions and Annuities” Less “Taxable Pension/Annuity Amount”

Exclude Rollovers

If negative, enter "0"

Parents’ Untaxed Portions of Pensions(for FAFSA/ISIR Award Years 2019-2020 and Prior)

Student’s Untaxed IRA Distributions (for FAFSA/ISIR Award Years 2019-2020 and Prior)

Required Item is found on IRS tax transcript by taking “Total IRA Distributions”Less“Taxable IRA Distributions”

Exclude Rollovers

If negative, enter "0"

Parents’ Untaxed IRA Distributions(for FAFSA/ISIR Award Years 2019-2020 and Prior)

Student’s Untaxed Portions of IRA Distributions and Pensions (for FAFSA/ISIR Award Years 2020-2021 and Beyond)

Required Item is found on IRS tax transcript by taking “IRAs, Pensions and Annuities”Less“Taxable IRAs, Pensions and Annuities”

Excluded Rollovers

If negative, enter "0"

Parent’s Untaxed Portions of IRA Distributions and Pensions (for FAFSA/ISIR Award Years 2020-2021 and Beyond)

Student’s Tax-Deferred Pension/Savings

Item is found on

W-2 form Box 12 A-D Codes D, E, F, G, H, and S

IRS Wage and Income Transcript “Deferred Compensation”

Parents’ Tax-Deferred Pension/Savings

 

The Department of Education provided tax return matrix may be viewed by clicking the links below.

2020-2021 FAFSA Verification - IRS Tax Return Matrix



Document Review - Determining if a person is Eligible to file a IRS form 1040A or 1040EZ

Generally a person is eligible to file a IRS form 1040A or 1040EZ if they meet the following requirements.


1) Taxable income is less than $100,000

2) Individual did not Itemize Deductions

a. Tax Return Transcript form 1040 the Standard Deduction will be 0 if itemized deductions.

3) Individual did not receive alimony

4) Individual did not have business income or loss

5) Individual was not required to file a Schedule D for Capital Gain or Loss

6) The following tax lines are 0 or blank

1040 Tax Return Line #
IRS 1040 Tax Transcript Label
10
Refunds of State/Local Taxes
11
Alimony Received
12
Business Income or Loss: SCH C Per Computer
13
Capital Gains or Loss: SCH D Per Computer
14
Other Gains or Losses (Form 4797)
17
Rent/Royalty/Partnership/Estate (Schedule E) Per Computer
18
Farm Income or Loss (Schedule F) Per Computer
21
Other Income
24
Reservist and other Business Expense
25
Health Savings Acct Deduction Per Computer
26
Moving Expenses: F3903
27
Self Employment Tax Deduction Per Computer
28
KEOGH/SEP Contribution Deduction
29
Self-Emp Health Ins Deduction
30
Early Withdrawal of Savings Penalty
31a
Alimony Paid
35
Domestic Production Activities Deduction
40
Itemized Deductions (Standard Deduction amount is 0)
43
Taxable Income (amount is greater than $100,000)
44
Form 8814 (4972 or other) Additional Tax Amount
47
Foreign Tax Credit Per Computer
52
Residential Energy Credit Per Computer
53
F3800, F8801 and Other Credit Amount
56
SE Tax Per Computer
57
Social Security and Medicare Tax on Unreported Tips Per Computer
58
Tax on Qualified Plans F5329 Per Computer
59a
Household Employment Taxes Per Computer
59b
Recapture Taxes
60
Taxes from Form 8959, 8960, or other
67
First Time Home Buyer Credit Per Computer
68
Amount Paid With Form 4868
69
Excess Social Security & RRTA Tax Withheld
70
Form 4136 Credit for Federal Tax on Fuels Per Computer
71
Form 2439, 8801, and Other Credit Total Amt