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    columbus13's Avatar
    columbus13 Posts: 1, Reputation: 1
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    #1

    Mar 16, 2009, 07:23 AM
    Interest income for F1 OPT students in Illinois
    I am a non resident alien student from India. Currently I am doing OPT in the state of Illinois.

    My 1099-INT form states that I got $100 interest income from bank accounts in IL.

    My questions are as follows.

    1. Do I have to report this interest income in my federal tax returns form (1040NR-EZ)?

    2. Do I have to report this income in IL state tax returns (IL 1040 NR with attachments IL 1040, and US 1040NR-EZ)?

    I included info about the forms I am planning to prepare just to verify that they are the right forms.

    Thanks in advance

    George M
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    May 7, 2009, 11:13 AM
    1) No. Bank interest is tax exempt for F-1 visa holders.

    2) Yes. The state of Illinois sees you as a resident regardless of your visa status, and bank interest IS taxable as a state resident.
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