Hi, I have a quick question about my taxes for 2007.
I started working as an independent contractor under OPT and received a 1099 MISC, however I have stayed in the US for over 5 years and as far as I know, after 5 years of stay you will have to file a 1040 instead of 1040NR. My questions are:
- How many percent of tax do I have to pay?
- Since I am working under OPT, do I have to file 1040 this year or 1040 NR?

Thanks...

Your tax percentage depends on your overall income level, which you did not provide, so I cannot answer.

If you arrived in the U.S. before 1 January 2003, you should file Form 1040. Otherwise, submit Form 1040NR.

If you have already completed 5-years on F1/OPT you will file resident tax return.
1099-Misc income is reported on schedule C (Form 10400. You can deduct your expenses on form C. This income is subject to 15.3% SE tax.

How you will treat the 1099-Misc income, read: Your U.S. Tax Return: W2 vs 1099-Misc: Employee vs Independent Contractor.