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-   -   Taxes on bank account interest (https://www.askmehelpdesk.com/showthread.php?t=453149)

  • Mar 1, 2010, 04:27 PM
    tax_confused
    Taxes on bank account interest
    Hi,

    I am a nonresident for federal tax purposes, although I have lived in the US for more than a year, because I have excluded the days that I was here under J1 (my current status is H1B). I have the following questions:

    1. Do I have to report the interest I gained from my US bank account on form 1040NR?

    2. My bank has not sent me form 1099, since they know I am a nonresident. Should I still ask for it?

    3. Since the state of California defines residency in a different way, is it possible that I am considered a resident for state tax purposes?

    4. If the answer to 3 is yes, should I file form 540 instead of 540nr, although I will file 1040nr for my federal taxes?

    5. What about my bank interest and form 1099 in this case?

    Thanks!
  • Apr 26, 2010, 12:57 PM
    AtlantaTaxExpert
    1 & 2) No.

    3 & 4) Yes.

    5) Claim the bank interest on your California return, because California does NOT honor any treaty exemptions.

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