FAFSA 2025–26 uses your 2024 tax return

The FAFSA form for the 2025–26 school year asks about income and taxes from 2024. This means you report what you earned, paid in taxes, and received in benefits during the calendar year 2024 — January 1 through December 31, 2024. You do not report 2025 income, even though you are applying in 2025.

This one-year lag exists because the U.S. Department of Education needs time to process millions of applications, and using a completed tax year makes verification simpler. Your 2024 tax return is already filed (or should be), so the numbers are final rather than estimated.

If you have not filed your 2024 tax return yet, you can still submit the FAFSA. You will enter your best estimate of 2024 income on the form, then update it later with actual tax figures once you file. The school's financial aid office will ask you to confirm the numbers match.

Key Takeaways

  • FAFSA 2025–26 requires 2024 tax information: your income, taxes paid, and any untaxed benefits you received during calendar year 2024.
  • You can file the FAFSA before your 2024 tax return is complete by using estimated income, then update the form once you have filed taxes.
  • If you did not work or file taxes in 2024, you still report that on the FAFSA — a zero income is a valid answer.
  • The IRS Data Retrieval Tool lets you transfer 2024 tax data directly from the IRS into the FAFSA, reducing errors and speeding up processing.
  • Some students and families do not file taxes at all; the FAFSA still requires you to report income information even if you had no tax filing requirement.

How to find your 2024 tax information

Your 2024 tax return is the primary source. If you filed a federal return, look at Form 1040 (the main return form) for adjusted gross income (AGI). If you filed a state return, that also shows income but the FAFSA asks for federal figures.

If you have not yet filed your 2024 return, gather the documents you used to prepare it: W-2 forms from employers, 1099 forms for self-employment or other income, records of untaxed benefits like Social Security or veterans' payments, and receipts for deductions. These same documents let you estimate income accurately on the FAFSA.

The IRS Data Retrieval Tool is the fastest route if your 2024 return is already filed. During the FAFSA process, you can authorize the form to pull your tax data directly from the IRS database. This transfers AGI, tax paid, and other figures automatically, which reduces mistakes and speeds up the school's review.

What happens if your income changed between 2024 and 2025

The FAFSA uses 2024 income even if you earned much more or much less in 2025. If you lost your job in January 2025, the form still reflects your 2024 earnings. If you started a new job with higher pay in 2025, the FAFSA does not account for that yet.

Schools know this lag exists. If your financial situation changed significantly after 2024, you can request a professional judgment review from the financial aid office. You will need to document the change — a termination letter, a new job offer, proof of reduced hours — and the school can adjust your aid package based on current circumstances. This is not automatic; you have to ask.

Some schools also allow you to submit a FAFSA correction if you discover an error in your reported 2024 income. This is different from a professional judgment request. A correction changes what you reported; a professional judgment request asks the school to consider information outside the FAFSA.

Special situations: self-employment, untaxed income, and non-filers

If you were self-employed in 2024, report your net self-employment income (revenue minus business expenses) from Schedule C of your tax return. The FAFSA asks for this separately from W-2 wages, so have both figures ready.

Untaxed income counts on the FAFSA even though you did not pay income tax on it. This includes Social Security benefits, Supplemental Security Income (SSI), workers' compensation, military housing allowances, and some veterans' benefits. You report these in a separate section of the form, not in the AGI line.

If you did not file a 2024 tax return because your income was below the filing threshold, you still complete the FAFSA. You report your actual 2024 income in the income fields, and you indicate that you did not file. The school will ask you to document your income — usually a letter from your employer or a bank statement showing deposits — but you are not penalized for not filing if you had no requirement to do so.

Timeline: when to report 2024 taxes on the 2025–26 FAFSA

The FAFSA opened October 1, 2024. Most schools' priority deadline for the 2025–26 FAFSA is between January 1 and March 1, 2025, though deadlines vary by school. You should submit the FAFSA as soon as you can, even if your 2024 tax return is not yet filed.

If you submit before filing taxes, use your best estimate of 2024 income. Once you file your return, log back into the FAFSA and update the form with actual figures. The school will verify the numbers against your tax return (often through the IRS Data Retrieval Tool) and adjust your aid if needed.

Do not wait until April 15, 2025 (the tax filing deadline) to submit the FAFSA. Schools process aid on a first-come, first-served basis for limited funds. Submitting early — even with estimated income — usually results in a faster aid decision than waiting for your tax return to be complete.

Using the IRS Data Retrieval Tool to transfer tax data

The IRS Data Retrieval Tool is built into the FAFSA. When you reach the income section, you will see an option to "Link to IRS." If you click it, you authorize the FAFSA to retrieve your 2024 tax information directly from the IRS database.

You will need your FSA ID (a login credential separate from your FAFSA username) and your 2024 tax return information to authenticate. The tool works only if your 2024 return has been processed by the IRS — typically within 21 days of filing electronically, or longer if you mailed a paper return.

If the tool does not work for you — for example, if you filed very recently or if there is a discrepancy in your records — you can still enter income manually. The school will ask you to provide a copy of your 2024 tax return later to verify the numbers you reported.

Frequently Asked Questions

Can I use my 2023 tax return instead of 2024?

No. The FAFSA for 2025–26 specifically requires 2024 tax information. If you did not file a 2024 return, you report your 2024 income based on other documents like W-2s, 1099s, or pay stubs. Schools will not accept 2023 figures as a substitute.

What if I filed my 2024 taxes but made a mistake?

You can file an amended return (Form 1040-X) with the IRS. Once the IRS processes the amendment, update your FAFSA with the corrected figures. Contact your school's financial aid office to let them know you have amended your return so they can re-verify your income.

Do I need to submit my tax return with the FAFSA?

Not initially. You submit the FAFSA online without attaching documents. Schools may ask you to provide a copy of your 2024 tax return later — usually if they are verifying your information or if you used estimated income. Check your school's website or contact their financial aid office to see what they require.

What if I am a dependent and my parents filed taxes?

You report your own 2024 income on your FAFSA, and your parents report theirs on their section of the form. If you had no income in 2024, you report zero. Your parents' tax information goes in the parent income section, regardless of whether you live with them.

Does the FAFSA ask about 2025 income at all?

No. The FAFSA for 2025–26 uses only 2024 tax data. If your circumstances change significantly in 2025 — you lose a job, start earning much more, or have other major changes — contact your school's financial aid office about a professional judgment review. They can consider current-year information when deciding whether to adjust your aid.