Ask Experts Questions for FREE Help !
Ask
    Joon's Avatar
    Joon Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 6, 2007, 12:27 PM
    Opt-h1 1099-misc and W2
    -I have been on opt for first half of 06,i.e till June-21(06/21/06) and during my opt I was a contractor so I have 1099-misc for this period.
    -From 6/21 to 12/31 I was on h1b and have w2 for this period.
    So here are my questions.
    -Since I pass substantial presence test,Do I have to file 1040 only.
    -Can I file 1040NR for first half i.e for 1099misc and file 1040 for rest?
    -Which way can get maximum deduction ?(since I have was on opt for first half
    Should I pay self employment tax?).
    -Can I make use of India tax treaty?


    Again thanks for taking your time for reading my questions ,You answers and comments
    Are much appreciated.

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

    Feb 7, 2007, 10:44 AM
    Joon:

    1) Yes, you meet SPT.

    2) Yes, if you are NOT married, you must file dual-status, filing Form 1040NR for the first half and Form 1040 for the second half of 2006.

    3) You can claim the standard deduction for the first half under the India-U.S. Tax Treaty. You do NOT have to pay self-employment tax on the 1099 income.

    The dual-status return is REAL DIFFICULT to prepare. Get professional help!

    If you need my professional tax help, contact me at [email protected].
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

F1(W2) and OPT(1099 Misc) to file [ 14 Answers ]

Hello Atlanta Tax Expert, My background: I am student from Atlanta GA in 2005. 1. I am Indian 2. I was on F-1 whole last year 2005 (although H1 was approved) 3. Started H-1 from 1/feb/2006 4. I was a graduate assistant(TA) from Jan-May 2005, hence I have a W-2 from college. 5. Then I was...

1099-misc during OPT [ 1 Answers ]

I came to the US in 2000 on F1 visa, and had been on F1 till Aug 05. Sept 05-Aug06 on F1/OPT, and changed to H1 since Sept 06. Jan 06 during my OPT, I did some statistical analysis for the University Hospital and they paid me by check. Last week, I got a 1099-MISC from the hospital. Just...

F1-->OPT(1099 Misc)-->H1B [ 3 Answers ]

Heloo Tax Expert, I was on F-1 visa as student from Jan 2005 - June 2005 OPT on F1 visa from July 2005 -->November 2005 H1-B in December 2005 for 1 month. I think I qualify as non resident alient and should fill out form 1040NR. Also am I qualified for both 5000+3200 deductions/exemptions? ...

F-1 to cpt to opt- two w-2's & 1099 misc [ 1 Answers ]

Hi *Indian Citizen I am on F-1 and got CPT in Summer 2005 (May05-AUG05) and am on OPT since OCT05. I have a W-2 from school from Jan 05 to May 05, a 1099-MISC from May 05 - Aug 05(my internship/CPT) and another W-2 for the rest of 2005 from my employer(OPT). I am trying to figure out...

OPT with F1 status, with W2 and 1099-MISC [ 3 Answers ]

Hai, I am a new member. I am really glad about this forum, which is helping lot of people, My status in 2005: Student on F1 (I am still on F1 with OPT) Was attending school full-time until: August, 2005 Working on OPT from September, 2005. My nationality: Indian

View more questions Search