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

    Mar 26, 2007, 06:47 AM
    Interest income for G-4 visa holders.
    :confused: Hi!
    I know that earned income is not taxable for G-4 visa holders, but what about bank interest income? Is there a limit/threshold? For instance, if I earned over $5,000.00 in interest for the year in deposit accounts, is some of that taxable? Also, if I filed taxes with my spouse (who has her green card) would that change my liability?

    Thanks in advance!!
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 29, 2007, 11:44 AM
    If earned income is not taxable, then neither is interest income.

    However, if you file jointly, you forfeit these exemptions, in which case BOTH the earned and interest income becomes taxable on the joint return.
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!

Whether the L1 visa holders are also pay the Tax in usa? [ 1 Answers ]

Hi All, It would be great if u can tell me, that whether L1,L2(if working in usa) visa holders are also tax payble in USA? Thanks in advance. Kanchan

Income Tax on Social Security & Interest Income [ 1 Answers ]

I collect SS, withdraw interest income monthly and sell real estate. I am wondering since my interest income & real estate commissions exceed the SS allowable income cap of $12,000 will my SS for the next year be reduced? Will my real estate expenses be deductible from taxes owed on my...

Taxes for J1 visa holders in Massachusetts [ 1 Answers ]

:) Hi, This is my 2nd year doing research like a postdoc from chile in Massachusetts. For my maintenance I do receive fellowship payments from an international foundation. Last year I paid both federal and state taxes but now I've heard that j1 visa holders don't need to pay taxes for the first 2...

H1B and H4 visa holders [ 5 Answers ]

Dear AtlantaTaxExpert, I am an H1B visa holder and my wife has H4. She is not allowed to work in Usa, her visa is a depenent one. I tried to do my tax return online and they won't let me to file her as my dependent. It says that your spouse cannot be your dependent. What is your advice?Can I get...

View more questions Search