Question about financial aid?

The FAFSA has a place to indicate that the parents are separated, and only the parent who provides at least 50% of support answers the questions about only their income. So, it makes no difference to FAFSA whether you are separated filing separate tax returns or divorced, doing the same thing.

In terms of the FAFSA, it won't matter one way or the other. If parents are either separated or divorced, then only the custodial parent's income is included. If you are separated, it doesn't matter whether you filed jointly or separately. The school will separate the income anyway, but it's a lot easier if you've already filed separately. Do keep in mind that to be considered separated, you must live at a different address from your spouse. Also, you cannot choose which parent's income to use. Federal regulations required that you use the information for the parent with whom the student lived the most during the previous 12 months. If the student didn't live with either of you, you must use the information for the parent who most recently supported her, even if that was several years ago. If she lived equally with each of you, then you must use the information for the parent who provided the most support (usually the one with the higher income).

You do NOT need to be divorced to report only one income... UNLESS you are still living together.

You report the income of the parent(s) with whom your daughter LIVES... even if your divorce is not final..

Yes, it might help, but no, they won't necessarily count only your income. My daughter was offered 0 by one school, because her father made a lot of money and they expected him to contribute. Other schools offered various amounts of aid, and one school offered her almost full tuition, room and board because they only looked at my income. But if I had still been married, all the schools would have looked at the combined income. You'll be working with your 2017 tax forms, so you need to figure this out quickly.