QuestBridge 2026 Income and Assets Guide - Glossary - Parent(s)/Legal Guardian(s) Income

Sep 19, 2026

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QuestBridge 2026 Income and Assets Guide provides a glossary and guidance for completing the Income and Assets section of an application. It explains that applicants must answer financial questions about parents, step-parents, or legal guardians in the primary household, and may need to report non-custodial parents and step-parents. The guide emphasizes accurate completion, warns that misrepresentation or omission can affect scholarship or admission offers, and offers examples for entering 2025 earned income, business or rental income, and related taxed income categories using specific tax return line references.

LanguageEnglish

CategoryForms

FormatPDF

Pages12

Reading Time4 min

AccessFree to download

Glossary: Income and Assets

Purpose and verification requirements

Using estimates when parent/legal guardian information is unavailable

Parent(s)/Legal Guardian(s) Income

Earned income from working in 2025

Business, farm, or rental income

Notes on avoiding double counting

Additional taxed income categories

Alimony, unemployment, retirement, Social Security, disability

Quest Bridge 2026 Income and Assets Guide Glossary: Income and Assets In the Income and Assets section of your application, you are required to answer financial questions about the parents, step-parents, or legal guardians in your primary household, and, if applicable, questions about the income and assets of your non-custodial parent and step-parent. This glossary is intended to help you complete the Income and Assets section of your application fully and accurately. Please note that all information you provide is subject to verification by QuestBridge and our college partners. Misrepresentation or omission of financial information can lead to withdrawal of offers related to scholarships, programs, or admission. If you are unable to complete the Income and Assets section with your parent(s)/legal guardian(s), then complete this section to the best of your ability using estimates. It will help our review of your application if you share why you cannot complete this section with your parent(s)/legal guardian(s) in the explanation box at the bottom of the Income and Assets page(s) . [Please visit ](Please visit questbridge.org/AskQB for)[questbridge.org/AskQB](Please visit questbridge.org/AskQB for)[ for](Please visit questbridge.org/AskQB for) further assistance. Parent(s)/Legal Guardian(s) Income: | Question | Description | Tax Return | | --- | --- | --- | | How much did your parent/step-parent/ legal guardian earn from working in 2025?
Include earned wages, salaries, and tips. | Include any money that your parent/step-parent/legal guardian received for work they did. This includes tips earned on a job, work for an individual, work for a company, wages paid to them from a business/farm they own, and money paid for services. Add together all wages, salaries, and tips received in 2025.
This information should be split and entered separately, as appropriate, for each parent/legal guardian. Please also see the note at the bottom of this page. | 1040 line 1a—only their earnings; W-2 box 1; or estimate if no W-2 available | | Did your parent(s)/legal guardian(s) earn any business, farm, or rental income? | Indicate “Yes” if your parent(s)/legal guardian(s) earned any income from a business, farm, or rental property in 2025. This may be because they are selfemployed, have a property they rent out, or a business or farm where they sell goods or services. | | Note: You should not enter any income in more than one box; all income should only be counted once in the total shown at the end of the Income section. | Question | Description | Tax Return | | --- | --- | --- | | If indicating “Yes”.. | | | | Net sole-proprietorship profit or loss | Sole proprietorships mean that the profit or loss from the business is passed to the owner of the business. Therefore, if your parent(s) or legal guardian(s) run a sole proprietorship, the profit or loss from the business will appear on their individual tax return. | 1040, Schedule 1, line 3 | | Net farm profit or loss | The farm’s total revenue minus total expenses ina year, resulting in either a profit or loss. Net farm profit or loss is considered the sole proprietor’s income and is reported on their individual tax return. | 1040, Schedule 1, line 6 | | Rental real estate, royalties, partnership, or S-Corporation net profit or loss | Other business-related income sources, including real estate rental, partnerships, S-Corporations, trusts, and estates. | 1040, Schedule 1, line 5 | | How much did your parent(s)/legal guardian(s) earn in interest and dividend income in 2025? | Interest income is money received from investments that pay interest, such as in a savings account or a certificate of deposit. Dividend income is money received from a payment by a corporation to its shareholders. | 1040 total of lines 2a, 2b, and 3b | | Did your primary parent(s)/legal guardian(s) receive any other taxed income or financial support in 2025 that was not reported above? | This inclu

FAQs

What is the purpose of the Income and Assets glossary in the QuestBridge application?

It helps applicants complete the Income and Assets section fully and accurately, including explaining required financial questions for parents, step-parents, and legal guardians.

What happens if financial information is misrepresented or omitted?

Misrepresentation or omission can lead to withdrawal of offers related to scholarships, programs, or admission, since the information is subject to verification.

What should applicants do if they cannot complete the Income and Assets section with their parent(s)/legal guardian(s)?

They should complete the section to the best of their ability using estimates and explain why they cannot provide the information in the explanation box.

Sep 19, 2026

Upload by Bulrr