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    coll_stu's Avatar
    coll_stu Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 17, 2009, 03:04 PM
    OPT tax
    Hi, I just graduated in May-2009. I got an internship from a company based in atlanta,GA which agreed to pay me a gross of $1500, beginning from August.I have had no income from this country/university so far. Could anyone point out the tax deductions which are applicable for me so that I don't end up paying anything unnecessary?

    Thanks all..
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jul 20, 2009, 07:53 AM
    They will probably pay you under a Form 1099-MISC, making the money self-employment income which must be reported on a Schedule C.

    If that is your only income source for 2009, you will owe ZERO income taxes, but you may owe about $225 in self-employment taxes.
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