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    vijay_sk_2000's Avatar
    vijay_sk_2000 Posts: 3, Reputation: 1
    New Member
     
    #1

    Feb 22, 2010, 05:45 AM
    Taxes
    Hi,
    I came to the US on an F-1 visa on 07/28/2004. I worked on OPT and then H-1B from 07/2009 and graduated in December 2009. I have the following questions:
    1. As per IRS website I am a resident for taxes in 2009 (entire year). Is that correct?
    2. If yes, I should file 1040A, 1040 or 1040 EZ
    3. I am filing single and claiming deduction of ~5000 $ for myself and an exemption of 3700$ for myself.
    4. Can I use the tuition and fees paid (mentioned in 1098-T, 1800$) as a deduction or lifetime credit? If yes what additional forms should I use?
    5. The 1098-T also mentions a scholarship amount in box 5 for 3000$. However, I am a graduate student and this amount was paid towards my tuition in exchange for teaching/research at the university.
    Thank you.
    VJ
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
     
    #2

    Feb 22, 2010, 10:39 AM

    1. Yes.
    2. Start with 1040EZ. If it does not serve your purpose, do 1040A and if...
    3. yes you will get standard deduction and exemption deduction.
    4. You should claim education credit.
    5. If you are a degree candidate and if the financial aid (includes scholarship and fellowship) is for tuition fee, other fees, books, supplies and equipment, then it is not taxable. For a degree candidate aid for boarding and travel are taxable.
    vijay_sk_2000's Avatar
    vijay_sk_2000 Posts: 3, Reputation: 1
    New Member
     
    #3

    Feb 22, 2010, 05:24 PM
    Quote Originally Posted by MukatA View Post
    1. Yes.
    2. Start with 1040EZ. If it does not serve your purpose, do 1040A and if ...
    3. yes you will get standard deduction and exemption deduction.
    4. You should claim education credit.
    5. If you are a degree candidate and if the financial aid (includes scholarship and fellowship) is for tuition fee, other fees, books, supplies and equipment, then it is not taxable. For a degree candidate aid for boarding and travel are taxable.
    MukatA, Thank you very much for the clarification. Regarding points 4 and 5,
    1. What kind of education credit should I claim (any forms I need to use)? There were 2-3 types I came across and one was specifically for undergraduates which does not apply to me as I was a PhD student last year. Or should I claim it as a deduction?
    2. I graduated in December-2009. The amount (3000$) was paid towards for my tuition only. The remaining (1800$) was what I paid for fees.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
     
    #4

    Feb 23, 2010, 05:53 AM

    For education credit do Form 8863. $1800 is what you paid.
    If you use a tax software, the software will guide you.

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