1. Puerto Rico Tax Forms
Understanding the key elements of the Puerto Rico Tax Forms, to complete a FAFSA
Presented by:
Luis Aquiles - Educational Financial Aid Services
Samuel Rivera – SFA Director Escuela Técnica de Electricidad

2. FAFSA ON THE WEB WORKSHEET: SECTION 3 - PARENTAL INFORMATION, (Q77) SECTION 4 - STUDENT FINANCES, (Q33) WHAT INCOME TAX RETURN DID YOU / YOUR PARENTS FILE FOR 2007?
77 / 33
A tax return for Puerto Rico, Guam, American Samoa, the U.S. Virgin Island, the Marshall Islands, the Federated States of Micronesia, or Palau
Reference: Web – On Line: “US Territory / Freely Associated State”

3. FAFSA ON THE WEB WORKSHEET: SECTION 3 - PARENTAL INFORMATION, (Q78) SECTION 4 - STUDENT FINANCES, (Q32) If you have filed or will file a 1040, were you eligible to file a 1040A or 1040EZ
Since in Puerto Rico we do not file Federal Taxes and we only have two Tax forms (Short and Long Form) we do not have an equivalent to the 1040A or 1040EZ.
The Long form reflects in its appropriate schedules all information that are required in the1040A or 1040EZ

4. TYPES OF FORMS FOR 2007
Short Form
Long Form

5. Key Elements in Tax Form
Identifiers: (name, address, SS, Filing Status)

6. FAFSA ON THE WEB WORKSHEET:
SECTION 3 - PARENTAL INFORMATION, (Q79) SECTION 4 - STUDENT FINANCES, (Q35)
Adjusted Gross Income PR Tax Form
Long Form – Page 1 Part 2 line 5
Short Form - Page 1 Part 2 line 4
Federal Tax Forms
IRS Line 37
IRS 1040A Line 21
IRS 1040EZ Line 4

7. KEY ELEMENTS IN TAX FORM (LONG FORM)
Income: Adjusted Gross Income (Page 1, Part 2, line 5)

8. KEY ELEMENTS IN TAX FORM (SHORT FORM)
Income: Adjusted Gross Income (Page 1, Part 2, line 4)

9. Questions 35/73 Questions 35/79 Adjusted Gross Income PR Tax Form
Long Form – Page 1 Part 2 line 5
Federal Tax Forms
IRS Line 36
IRS 1040A Line 21
IRS 1040 EZ Line 4
Telefile Line 1

10. OTHER SCHEDULES THAT AFFECT THE ADJUSTED GROSS INCOME (LONG FORM)

11. GAIN OR LOSS FROM PROFESSIONS AND COMMISSIONS (LONG FORM)

12. FAFSA ON THE WEB WORKSHEET:
SECTION 3 - PARENTAL INFORMATION, (Q82/83) SECTION 4 - STUDENT FINANCES, (Q38/39)
Amount earned from work
Long Form – Page 1 Part 2, 1
Short Form – Page 1 Part 2, 1
Federal Tax Forms
IRS Line 57
IRS 1040A Line 35
IRS 1040EZ Line 10

13. Amount Earned from Work
(Long Form)
Part 2, 1
(Short Form)

14. Questions 38/39/82/83 Questions 38/39/82/83 Amount earned from work
Long Form – Page 1 Part 2, 1 Short Form – Page 2 Part 2, 1
Federal Tax Forms
IRS Line 57
IRS 1040A Line 35
IRS 1040EZ Line 10

15. FAFSA ON THE WEB WORKSHEET:
SECTION 3 - PARENTAL INFORMATION, (Q80) SECTION 4 - STUDENT FINANCES, (Q36)
Tax Liability
Long Form – Page 2 Part 4 line 30
Short Form - Page 3 Part 4 line 14
Federal Tax Forms
IRS Line 57
IRS 1040A Line 35
IRS 1040EZ Line 10

16. TAX LIABILITY (LONG FORM) (PAGE 2, PART 4, LINE 30)

17. FAFSA ON THE WEB WORKSHEET:
SECTION 3 - PARENTAL INFORMATION, (Q81) SECTION 4 - STUDENT FINANCES, (Q37)
Parents exemptions for 2004.
Long Form – Schedule A1 – Individual (List all exemptions claimed)
Short Form - Schedule A1 – Individual (List all exemptions claimed)
Federal Tax Forms
IRS Line 6d
IRS 1040A Line 6d
IRS 1040EZ Use worksheet

18. SCHEDULE A1 (EXEMPTIONS CLAIMED SHORT AND LONG FORMS)
Short Form

19. SIGNATURES (LONG FORM)

20. SIGNATURES (Short Form)

21. VERIFICATION WORKSHEETS

22. END!!
QUESTIONS?