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where is that on the 1040 tax form? I'm trying to fill out the FAFSA, but I'm not sure which one it is.

By Jadesark (Jadesark) on Tuesday, January 06, 2004 - 08:02 pm: Edit

also, it says on the 1040 that it's on line 54, but line 54 says "total credits". Is that what it is?

By Xdtish (Xdtish) on Tuesday, January 06, 2004 - 09:11 pm: Edit

I had the same problem. I used my 2002 1040 tax returns. I think its line 61, not 54. I'm gonna call manana and find out.

By Jadesark (Jadesark) on Tuesday, January 06, 2004 - 11:51 pm: Edit

Tell me what you find out.

By Xdtish (Xdtish) on Wednesday, January 07, 2004 - 05:00 pm: Edit

Yeah, its line 55 on 2002 tax return. The line says "subtract line 53 from line 43...enter -0-".

Get a 2003 tax return and compare the lines with 2002 tax return. B/c 2002 lines are different from 2003.

By Jadesark (Jadesark) on Wednesday, January 07, 2004 - 05:39 pm: Edit

hmmm..on mine it says "subtract line 54 from 44" 1 number different so it's probably right. my line 55 says 0, is that possible? Probably a stupid question, but I just know nothing about taxes

By Xdtish (Xdtish) on Wednesday, January 07, 2004 - 06:15 pm: Edit

what form are you using 2003 or 2002?

If 2002:
use line 55
if 2003:
follow the intruction in the FAFSA website(line 54 )

It can't be "o" b/c you gotta pay income tax right? Unless.........your parents "acidentally" forgot 2002 tax return...hmnmmm, just a thought.

J/K