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gnarayan
Apr 12, 2007, 10:29 AM
Hi,
I'm a citizen from India studying in the US on an F1 visa since August 2001. In 2005 I moved to grad school and remain on an F1 visa but from the new institution.

I'm confused about some of the tax consequences this stay has -

Since I've spent more than 5 years here I am a resident alien for tax purposes and have to file the 1040A
I no longer need to file the Form 8843 detailing the number of days I've been present here
I have to file the Form 8863 to claim educational credits from my form 1098-T
Are the above correct or am I mistaken and if so what do I do?

Also my Form 1098-T has a tick box indicating that the amount from box 2 (amounts billed for qualified tuition and related expenses) includes amounts for an academic period beginning Jan-March 2007. What, if anything, should I do about that?

Finally, is the gross income on my 1042-S in any way connected to box 1 Wages and Tips on my W-2 and similarly the tax withheld boxes. There numbers disagree. The 1042-S numbers are less than the W-2. What do I do with a 1042-S when filing form 1040A.

Is there anything else I am missing.

Thanks.

AtlantaTaxExpert
Apr 19, 2007, 02:37 PM
You are correct about how to file your tax return.

Do nothing about the Form 1098-T.

If you received a Form 1042-S that had withheld taxes, then this is considered taxable income which must be reported either on the WAGE line of Form 1040 or 1040A or as OTHER INCOME on Lne #21 of Form 1040.