F1 Student Self-employment advice
Hello,
My name is Josh, and I'm an F1 international student from Vietnam. This issue I ran to maybe already happen to other students, so I seek for your advice of what I should do.
I had started an Amazon online store since 2010, I've been selling a few things I don't use anymore like books. But early 2012, a friend of mine knows that I had an Amazon seller account, so he asked me to sell (or listing) electronic products for him since he doesn't want to run into trouble with Amazon by creating a new account. And in the same time, I manage customers and orders, and he will give me a little commission from selling profit. So I helped him, and the sales went too well during Summer and Holiday season that my account reached $50,000 in gross income with $4,000 for return and refund products.
I always understand that "working off-campus" is illegal for international students so I never did that (ever), but I never know having a simple "online business" like this also can run me into trouble. (I wish when I got my visa, the Embassy gave me a list of what you should do when you go to US).
This January I receive 1099-K form from Amazon with all the income has made by my account, while I looked up for the information how to report this back to IRS, then I realized I involve in some trouble. In the tax aspect, I know I have to file Form 1040 Schedule C for this, but I don't know if I also have to file Form 1040NR ? Among with 1099-K, I received 1098-T form from my university that indicates I paid full-time tuition last year for $10,000 after scholarship.
I've been studying here for 5.5 years, and I have come back to my country twice in 2008 and 2011 and renew my visa twice during that time.
Things has been done, and I wish that I could be more wise back then to look things up online before I decide to do anything involve with money. But one year left until I finish my degree, so I really want to stay until I finish everything.
I earnestly seek for your advice in both aspect of tax and immigration in this case of what I should do.
Thank you very much.