Hello.
I was on F1 visa in 2007 and started OPT in Dec. 2007 (which I believe comes under F1 status). I have been in the US since 2005.
I had a few questions as follows:
Q. 1. I received a 1099-INT form. Do I need to pay tax on interest income from Money market account investments in the US? I believe I am a Non-resident (< 5yrs on F1), so I think maybe not.
Q. 2. I want to claim Education Credit / Benefits (Lifetime Learning Credits) for 2007. I received a form 1098-T from my University. The amount in box 2 (tuition and related expenses) is less than I actually paid, based on the receipts I have. I understand I cannot claim health center and insurance, but can I claim International student counseling, and few other fees which are mandatory to be enrolled in the program?
Q. 3. I read in 1040NR instructions that if I claim Education credit, I need to file as a Resident Alien. Is that correct?
Q. 4. But if I choose form 1040 or 1040A (used by a Resident Alien) for filing, can I still exclude the interest I mentioned in Q. 1 from my taxable income?
Help is appreciated.