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alimineti
Feb 9, 2006, 10:54 PM
Hello
I have a question. Im an F-1 student. I graduated in May 2005. I have been working on OPT since June all the way until the end of the year. That makes me qualified to file tax as a non-resident.

Ok I earned an amount of 4200 on W-2 (not on H-1, its F-1)with federal tax 225 and state tax 140 held. And also I earned 27000$ on 1099-MISC.

So how much tax do you think I need to pay now?

AtlantaTaxExpert
Feb 10, 2006, 05:46 AM
If you are F-1 for the entire year, you are exempt from Social Security and Medicare taxes and self-employment taxes on the $27,000 you earned. That's the good news!

The bad news is that you will still owe significant taxes. If you claim no deductions on your Schedule C, you will owe $2,978 in federal income tax.

How much you owe in state income tax depends on in which state you are located.

BTW, what is your nationality (makes a difference as to what deductions you can claim)?

alimineti
Feb 10, 2006, 10:20 AM
Thank You for responding.

Iam Indian National. And I live in state CA. The W-2 is from the state KY.
What deductions I can claim?

AtlantaTaxExpert
Feb 10, 2006, 10:48 AM
Alimineti:

On the Schedule C, you may be able to claim:

- Mileage incurred while working.
- Use of your personal computer while working.
- Cost of supplies you paid out-of-pocket for work.
- Use of your cell phone (if used for work).
- The use of your apartment for work.

There are other possible deductions, but I would need to know a LOT more about the nature of the work you did while earning that $27,000.

You will ned to file two state tax returns (Kentucky and California).

If you want to use my tax service, contact me at [email protected] and we will discuss your situation in more detail.

alimineti
Feb 10, 2006, 01:57 PM
I want you to do mny taxes. I have sent u an email with my contact number. Contact me soon.

AtlantaTaxExpert
Feb 10, 2006, 11:10 PM
We have spoken!