OPT with F1 status, with W2 and 1099-MISC
Hai,
I am a new member. I am really glad about this forum, which is helping lot of people,
My status in 2005:
Student on F1 (I am still on F1 with OPT)
Was attending school full-time until: August, 2005
Working on OPT from September, 2005.
My nationality: Indian
I have one W-2 from school (I was an R.A.)
One 1099-MISC from my first employer (I was working as a contractor initially)
One W-2 from the second employer (Working from December 15, 2005)
I did not pay social security/medicare on my school W-2.
But I paid social security/medicare on my W-2 forum with second employer.
But my main concern is there was no withholding for the income on the 1099-MISC. I made USD 19,320 as an independent contractor
And paid NO taxes on it. They put that amount in box 7, under "Nonemployee Compensation".
I know that I need to pay tax for income received under a Form 1099-MISC.
My questions:
1. As a citizen of India, Is there a treaty which allows me to claim a standard deduction and personal exemption for my income. If yes, can you specify the amount of standard deduction and personal exemption?
2. Am I eligible for tuition deductions/credits? (I paid tuition during 2005)
3. What is the percentage of tax I need to pay for the imcome reported on 1099-MISC? ($ 19,320 in my case)
4. And finnaly how do I claim a refund for the social security/medicare taxes that I paid with my second employer?
Thanks in advance
Regards,
Hems