Thank you for replying!
For 2024:
The worksheet on line 10 states, "Don’t include expenses of maintaining the home, such as mortgage interest, real estate taxes, and insurance"
- She graduated high school in May and began school in September.
- She was 19 at the end of 2024.
So a little confused what to do here, but considering the home has a median price of $143,000 and the local real estate tax is 4 mils, it's probably not going to change anything.
- Her parents provided support in the form of lodging, utilities, and maintained the home all of 2024, bought food for the household, paid the utilities
- The family is on State assisted medical insurance, so not sure there is a cost there, but she pays any copays for 2024.
- The only education expense the parents paid was her TEAS exam which I think was maybe $125.00 in February.
- The family did take her and her brother on a trip to Florida as a graduation present and paid for the plane fare and hotel, and I'm going to have to guess that was maybe $1,500 her share they paid.
- She buys her own clothes, pays her own car insurance, cell phone, fuel
- She owns her car with an FMV of around $13k. Car was a gift in 2023 (not from parents).
--- Her income was $7,159.13
--- She had $1,400 in a savings account at the beginning of the year, the money was gifted in 2023, end of year she had $710 in the account.
--- Her total federal loans were $3,712.00
In looking at the worksheet that would make her personal support $12,271.13
Well best I can calculate would be:
- Total funds belonging to student: $12,271,13
- Support provided by parents:
-- Lodging: $3814.76
-- Food: $3,500 (I increased this)
-- Utilities: $1,183.33 (I increased this from my previous post)
-- Trip and other support: $4,000 (I added this)
Total (50% Support): $6,249.05
