Hi Folks,

I am just curious as to what kind of amount I am looking for as tax return, if at all I get any. I just received my W2-2014 form from my employer, and will be filing tax returns soon. I also want to get an idea as to which forms should I be filing, and what approximate dollar amount I can see as tax return. I know Indian students on OPT have some exemptions.

My W2 details are:
Filing in state of CA.

Gross Pay ($24,640.00) - Less($560.00 , Medical Insurance) = $24,080(Reported W2 Wages- Box 1).

Payroll taxes (Box 3 and Box 5)= NIL (Indian student on initial 12 month OPT period).

Box 16 (CA state wages, tips etc.) = $24,080.

Box 2 (Federal Income taxes withheld) = $3924.42
Box 17 (State Income tax) = $1286.28

Taxable Marital Status : SINGLE.
Exemptions/Allowances : Federal = 1 , State = 1.

EDIT : Forgot to mention Box 14 of W2 : CA SDI : $240.80

What forms should I be using for tax filing. I am new to this and really appreciate any help.

As an Indian student on a F-1 visa (presumably for LESS than five years), you will need to file Forms 1040NR-EZ and 8843, plus the California return (which can be efiled).

The two federal forms must be mailed to Austin, TX.

By virtue of Article 21(2) of the U.S.-Indian Tax Treaty, you are allowed to claim the $6,200 standard deduction. As a result, your FEDERAL refund is $2,289, while your California refund is $1,035.

You are NOT entitled to any education credit or deduction, even if you receive a Form 1098-T.

You CAN deduct student loan interest if you made any payments in 2014.

If you need professional help to file, please email me at the email address in my profile.

By virtue of Article 21(2) of the U.S.-Indian Tax Treaty, you are allowed to claim the $6,200 standard deduction. As a result, your FEDERAL refund is $2,289, while your California refund is $1,035.Thank you so much.If you need professional help to file, please email me at the email address in my profile.I will definitely reach out to you if I need to file my returns professionally. Thank you.

Glad to help!