Transcripts

[Burke]

The client's son needs to submit the transcript to his school for financial aid application.

Just in case the transcript does not include the amended tax return changes and the Obamacare Form 8962 information, is there a standard procedure to handle the situation? Should the son submit the transcript with a copy of the amended tax return and the additional Form 8962?

So what are the consequences of the amended return? Is it an increase or decrease in income which will affect Financial Aid?

[Burke]

The client's son needs to submit the transcript to his school for financial aid application.

Just in case the transcript does not include the amended tax return changes and the Obamacare Form 8962 information, is there a standard procedure to handle the situation? Should the son submit the transcript with a copy of the amended tax return and the additional Form 8962?

So what are the consequences of the amended return? Is it an increase or decrease in income which will affect Financial Aid? In the OP from Openfire, his client needed it for a closing. In that case, I would not worry about the amended return. The loan has probably been approved by now. One of my clients just bought a house in the middle of all this transcript-off-line mess, and it did not affect the process at all. Whether the bank actually ever got one, I don't know, but I don't see how they had time to get it. Loan closed 6/25 and was only pending about 3 weeks. We provided last 2 yrs tax returns at the local level.