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    MKD's Avatar
    MKD Posts: 5, Reputation: 1
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    #1

    Mar 4, 2006, 09:31 AM
    Taxable Interest (f1 To H1b In Oct)
    Dear Atlanta Expert and other friends,

    Thank you for this website and your contribution.

    I have question regarding taxable interest. On October 1, 2005, my status was change from F1 to H1B, As per the sticky note, I should be filling the 1040 NR + 8843.

    My question is about taxable interest. My bank has sent me 1099-INT form which includes interest for entire year.

    1. Do I report this interest as taxable interest on 1040 NR even through I am not Non Resident Alien (less than 183 days).
    2. Do I report the entire amount?
    3. Can I use 1040NR-EZ if this interest is not taxable.
    4. Do I have to fill any other form other than 8843 and 1040NR/NR-EZ.

    Please advice,
    Thanking you
    MKD
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 4, 2006, 11:46 AM
    MKD:

    If you are reporting as a non-resident alien, the interest is all non-taxable.

    That being the case, you can file Form 1040NR-EZ and 8843. Those are the only forms that have to be filed for 2005.
    MKD's Avatar
    MKD Posts: 5, Reputation: 1
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    #3

    Mar 5, 2006, 01:00 PM
    Thank you Atlanta Expert.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Mar 5, 2006, 06:56 PM
    Glad to help!
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