View Full Version : F1 Student on CPT/OPT Tax filing
GiGiGi
Jan 17, 2009, 03:07 PM
I am an alien resident now on F1 visa status. In summer of 2008, I worked as an intern in a out of state company and received about $7800 payment. I have just graduated in Dec 2008 and now on OPT status and will have internship in the same state that I previously interned.
The internship company did not withhold any tax, and I have not filed tax for the internship income in 2008 summer yet. I plan to do so but have no idea what tax form should I use, how much I should pay and how to file tax. I would be highly appreciated if someone can help me figure this out.
My questions again:
1) what Tax Form should I use?
2) how much tax should I pay?
3) what kind of tax should I pay?
4) how can I file tax? On line or in other way?
5) Is the tax for OPT period different from CPT period?
Thanks so much for your help!
MukatA
Jan 17, 2009, 08:22 PM
1. If you did not complete 5 years on F1/OPT you will file non-resident tax return.
2 & 3. If you are non-resident as pre 1. then your income is not subject to FICA or SE taxes. You will pay income taxes.
4. File depending upon your resident status.
6. No.
Read: Your U.S. Tax Return: U.S. Tax Filing Requirements for Non-Residents (http://taxipay.blogspot.com/2008/03/us-tax-filing-requirements-for-non.html)
GiGiGi
Jan 17, 2009, 08:38 PM
1. If you did not complete 5 years on F1/OPT you will file non-resident tax return.
2 & 3. If you are non-resident as pre 1., then your income is not subject to FICA or SE taxes. You will pay income taxes.
4. File depending upon your resident status.
6. No.
Read: Your U.S. Tax Return: U.S. Tax Filing Requirements for Non-Residents (http://taxipay.blogspot.com/2008/03/us-tax-filing-requirements-for-non.html)
Hey MukatA, thanks so much for your help!
However, there are some terms that I don't understand. What is "pre 1" and "FICA"?
Also, what is the tax rate for income taxes in my situation? I am not a U.S. citizen and I have been in the U.S. for less than 2 years.
Also, which tax form should I use? 1099? Or 1042?
Thanks a million!
AtlantaTaxExpert
Jan 20, 2009, 08:22 AM
Your tax rate depends on the amount of income your earned. More than likely, it will be either 10% or 15%.
You will use Form 1040NR or 1040NR-EZ, plus whatever state tax forms apply for your internship state.
GiGiGi
Jan 20, 2009, 08:41 AM
Your tax rate depends on the amount of income your earned. More than likely, it will be either 10% or 15%.
You will use Form 1040NR or 1040NR-EZ, plus whatever state tax forms apply for your internship state.
Thanks for your answers:)
My company has me as an independent contractor, not employee. If that is the case, what % do I need to pay?Appreciated!
AtlantaTaxExpert
Jan 20, 2009, 11:12 AM
You are an F-1 student, so you are NOT liable for self-employment taxes.
You will need to file Form 1040NR with a Schedule C.
More than likely, you will pay between 10 - 15%.
GiGiGi
Jan 20, 2009, 01:40 PM
You are an F-1 student, so you are NOT liable for self-employment taxes.
You will need to file Form 1040NR with a Schedule C.
More than likely, you will pay between 10 - 15%.
Sure, very helpful:) hahaha~~~
One more question, what or how much deduction is applicable for me then?
AtlantaTaxExpert
Jan 21, 2009, 10:47 AM
Whole BOOKS have been written on the available deductions on the Schedule C. There is no way I can adequately cover it on this forum.
Read the instructions for Schedule C to get some idea what you can claim. If it seems a bit too confusing, then get professional tax help!
GiGiGi
Jan 21, 2009, 12:36 PM
Whole BOOKS have been written on the available deductions on the Schedule C. There is no way I can adequately cover it on this forum.
Read the instructions for Schedule C to get some idea what you can claim. If it seems a bit too confusing, then get professional tax help!
:) No problem! Thank you so much!
AtlantaTaxExpert
Jan 21, 2009, 01:55 PM
Glad to help!