19CASSET 1/11/2019
Notes for Asset Questions
Net worth means current value minus debt. If net worth is negative, enter 0.
Investments include real estate (do not include the home in which you live), rental property
(includes a unit within a family home that has its own entrance, kitchen, and bath rented to someone
other than a family member), trust funds, UGMA and UTMA accounts, money market funds, mutual
funds, certificates of deposit, stocks, stock options, bonds, other securities, installment and land sale
contracts (including mortgages held), commodities, etc.
Investments also include qualified educational benefits or education savings accounts (e.g.
Coverdell savings accounts, 529 college savings plans and the refund value of 529 prepaid tuition
plans). For a student who does not report parental information, the accounts owned by the student
(and/or the student’s spouse) are reported as student investments. For a student who must report
parental information, the accounts are reported as parental investments, including all accounts
owned by the student and all accounts owned by the parents for any member of the household.
Investments do not include the home you live in, the value of life insurance, retirement plans
(401[k] plans, pension funds, annuities, non-education IRAs, Keogh plans, etc.) or cash, savings and
checking accounts.
Investments also do not include UGMA and UTMA accounts for which you are the custodian, but
not the owner.
Investment value means the current balance or market value of these investments as of today.
Investment debt means only those debts that are related to the investments.
Business and/or investment farm value includes the market value of land, buildings, machinery,
equipment, inventory, etc. Business and/or investment farm debt means only those debts for which
the business or investment farm was used as collateral.
Business value does not include the value of a small business if your family owns and controls
more than 50 percent of the business and the business has 100 or fewer full-time or full-time
equivalent employees. For small business value, your family includes (1) persons directly related to
you, such as a parent, sister or cousin, or (2) persons who are or were related to you by marriage,
such as a spouse, stepparent or sister-in-law.
Investment farm value does not include the value of a family farm that you (your spouse and/or
your parents) live on and operate.