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

    Mar 27, 2007, 09:23 PM
    OPT and 1099 MISC huge amount around 97k
    I am an F1 student. I worked as an independent contractor during my CPT and OPT. I made around $97,000 which is now reported on the 1099-misc form. I will be filing 1040NR and Schedule C. I have also incurred expenses of around $14,000 in food and travel.

    1. Can I claim itemized deduction of $5,150 and a standard exemption of $3,300(for f1 student under tax treaty) on 1040NR?

    2. Can I claim the tuition I paid as a business expense in Schedule C in addition to the other expenses?

    :confused:

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

    Apr 2, 2007, 01:01 PM
    1) If you are from India, you CAN claim the stnadrd deduction of $5,150. You get to claim the $3,300 personal exemption regardless of your country of origin.

    2) No. Tuition credits are not allowed for non-resident aliens.

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