Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   OPT and 1099 MISC huge amount around 97k (https://www.askmehelpdesk.com/showthread.php?t=76632)

  • Mar 27, 2007, 09:23 PM
    AgileGuy
    OPT and 1099 MISC huge amount around 97k
    I am an F1 student. I worked as an independent contractor during my CPT and OPT. I made around $97,000 which is now reported on the 1099-misc form. I will be filing 1040NR and Schedule C. I have also incurred expenses of around $14,000 in food and travel.

    1. Can I claim itemized deduction of $5,150 and a standard exemption of $3,300(for f1 student under tax treaty) on 1040NR?

    2. Can I claim the tuition I paid as a business expense in Schedule C in addition to the other expenses?

    :confused:

    Thanks!
  • Apr 2, 2007, 01:01 PM
    AtlantaTaxExpert
    1) If you are from India, you CAN claim the stnadrd deduction of $5,150. You get to claim the $3,300 personal exemption regardless of your country of origin.

    2) No. Tuition credits are not allowed for non-resident aliens.

  • All times are GMT -7. The time now is 05:35 PM.