Tesoro Financial Need Form - Nshss Foundation

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FINANCIAL NEED
Student applicant’s name: ____________________________________________________________
Financial need will be evaluated based on family income and household size (number of individuals
in household who receive more than half of their support from the parent(s)), based on
information from the first page of the parent or guardian's 1040 tax return (or official verification
that parent is below the income line to pay taxes). Financial information is kept strictly
confidential. The following form must be signed and returned by the parent or guardian of the
applicant.
Confidential Financial Information
This information is to be completed by the head of household that declares the applicant as a
dependent on Federal Tax Returns. Select one of the following below, which determines which
parent/guardian should fill out and sign the form. The definition of household size is the number of
individuals who live with and receive more than half of their support from the parent(s) in the home.
1. If both parents live in the same household and file a joint tax return, the form should be
filled out and signed by the head of household.
2. If both parents live in the same household and file separate tax returns, then both
incomes need to be reported on the form and signed by the parent claiming the
applicant as a dependent on the tax return.
3. If parents are divorced/separated/unmarried:
a. If the applicant’s parents are separated, divorced or were never married, the
custodial parent is responsible for filling out the financial need form. The custodial
parent is the parent with whom the applicant lived the most time during the past
12 months of submitting the form. Note that this is not necessarily the same as
the parent who has legal custody. If the applicant did not live with one parent
more than the other, the parent who provided the most financial support during
the past twelve months should fill out the form. This is probably the parent who
claims the applicant as a dependent on his or her tax return. Biological parents
who never married are treated the same as parents who are divorced.
Note: If the custodial parent has received child support from the non-custodial parent that
amount must be included on the form.
Income, Earnings and Benefits
Please complete the following information from 2015 Federal Tax Return. If the return has not
yet been filed, the figures can be calculated using the IRS instruction for Form 1040, 1040A, or
1040EZ, found at public libraries, local post offices, or downloaded from the IRS website at
The following information is compiled from the head of household’s tax return filed in
_____________________ for the year ________________.
Adjusted Gross Income:
_________________________________________________________________
(From 1040 Form – Line 37; 1040A Form – Line 21; or Form 1040EZ – Line 4)

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