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

    Jun 13, 2014, 12:48 PM
    F1 OPT: 401K: Federal income taxes
    I have a question. I’m on the F1-OPT. My employer offers me 401K matching contribution. As far as I know, I don’t get many deductions on the Federal Income TAX, because I’m nonresident. If I chose to contribute, will this contribution be taxed anyway or I get tax deferral like US residents?
    I'm Brazilian resident.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jun 13, 2014, 02:21 PM
    The 401K contributions by you AND your employer are tax-deferred, which means that income tax will be assessed when you make a withdrawal from the 401K.

    This applies irrespective of your visa status or whether or not you are a resident or non-resident.
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!

Federal income tax for OPT F1 [ 2 Answers ]

Hi, I have been working on OPT since June 2010 with F1 status. My employer is in Texas. He is deducting almost 18.75% Federal income tax from my pay stub. Please suggest me should I pay that tax. If yes, How can I save the most of it. Are there any other taxes, which I have to pay. Thanks...

Federal Income Tax on OPT [ 8 Answers ]

I am an MBA graduate and I graduated in May 2008. I pursued my MBA from Aug 2006 - May 2008. I was on F-1 Visa during this period. My OPT started from June 19, 2008 and is valid until June 19, 2009. I plan to return to my country once my OPT expires. I started working for a company from August...

Help! Federal income tax for F-1 OPT [ 7 Answers ]

Hello, I was on F-1 visa for the first half of 2005 and F-1 OPT for the second half of 2005. I've been in U.S for 8 years. Shall I file 1040NR or 1040NR-EZ? Thanks for your help. Luby

Federal taxes while on OPT and CPT [ 3 Answers ]

Hi I am a F1 student from Sri Lanka. I am graduating this December and currently under CPT. Since I am on a STEM degree, I can get OPT for another 29 months after December or apply for H1B. I am a non resident alien and I want to know about the taxes I have to pay. I know that I don't have to...

2006 taxes: F-1 OPT Income & Foreign Income [ 4 Answers ]

Hi, I have a somewhat complicated question about my 2006 taxes... I came to the US in 2001 on a student visa (F1). After I finished my degree I worked one year under OPT, and I left when my OPT/visa expired in May 2006 and went home to my native country and got a job there. So basically I...

View more questions Search