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Deci121212
Dec 2, 2010, 07:32 AM
Hi,
I am an international student doing my masters. I am in my final semester. I got an internship and working as a contractor. I am doing my internship on CPT status. Now my employer gave me a cheque without any tax cuts. I asked him whether I am on a payroll and will I get a W -2 form? He said you can file a 1099 form at the end of the year. My questions are

Can an international student file 1099 form on CPT ?
Can I file the same form after graduating and on OPT status for another year ?
My monthly income is $3000. Am I eligible still for 1099 ?
If not how to file my taxes. Please specify the procedure.
I would appreciate your help

AtlantaTaxExpert
Dec 2, 2010, 03:50 PM
He is paying you as a contractor, which makes no difference INCOME tax wise (except that no taxes are being withheld).

You will file Form 1040NR with a Schedule C to document the income and pay the INCOME tax. As a international student (on either a F-1 or J-1 visa), you are EXEMPT from the 15.3 self-employment tax.

If you need help filing your return, contact me a [email protected].

Deci121212
Dec 2, 2010, 04:31 PM
Thanks a lot for the information. So should I accept his cheque? WIll I have any problems in future when I convert my visa status to H1 ? I appreciate your help.

MukatA
Dec 2, 2010, 08:39 PM
Yes, accept the cheque.