Tax filing for a F1 student
Hi I am a F1 Indian student who filed her returns for 2010 and 2011 with turbo tax and paid $60. However, Turbo tax used form 1040A and gave me a refund of $1223 in 2010 and calculated a refund of $1155 for 2011. I noticed that I was given a credit for American opportunity and I was not aware that it is only for citizens. I only realized it today after reading some articles about the credit. What am I supposed to do now ? I will be completing my masters in may this year and going back to India. However, I want to rectify this mistake ASAP. I am given to understand that I will have to file a 1040X. I am really worried about the procedure. Will I be charged penalty and interest for this amount ? How can I get IRS to waive it for me. I was genuinely unaware of the these tax laws.