6Criteria for dependent students: Standard Verification Tracking Group (DepV1)
The V1 verification tracking group is the Standard Verification Group. Dependent students in this group must verify information if their parents are tax filers.
If parents are tax filers:
- Adjusted gross income
- Income earned from work
- US Income tax paid
- Untaxed portions of IRA distributions
- Untaxed portions of pensions
- IRA deductions and payments
- Tax-exempt interest income
- Education credits
- Foreign income exempt from federal taxation
- Family size
If parents aren't tax filers:
- Income earned from work
- Family size
- 1 (Correctional Facility Address file)
- 2 (Received via P.O. Box at IDC)
- 3 (Incarcerated Applicant Flag set in FAA Access)
Baseline configuration has been updated so that no documents are requested for this population, and they automatically clear Standard (V1) verification.
The Dependent Verification Worksheet is only requested in scenarios where the Parent Updated Family Size and/or Assumed Parent Family Size values aren't blank. When these values aren't blank the parent must provide all of their family information.
The Rollover Statement is only requested from Parent and/or Parent Spouse if these fields have a value greater than 0:
- Student Untaxed IRA distributions
- Student IRA deductible and payments
- Student Untaxed Portions of IRA Distributions
- Student IRA Rollover
- Parent Untaxed IRA distributions
- Parent Spouse Untaxed IRA distributions
- Parent Spouse IRA deductible and payments
- Parent Untaxed Portions of IRA Distributions
- Parent IRA Rollover
- Parent Spouse Untaxed Portions of IRA Distributions
- Parent Spouse IRA Rollover
One of the following documents—Tax Transcript, 1040, 1040x, or Foreign Tax Transcript—will be requested from Student, or Parent, or Parent Spouse if the following fields have a value greater than 0:
- Student Foreign Income Tax Exclusion
- Parent Foreign Income Tax Exclusion
- Parent Spouse Foreign Income Tax Exclusion