Ask Experts Questions for FREE Help !
Ask
    Satyam's Avatar
    Satyam Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Apr 5, 2007, 08:01 PM
    Myself HIB & spouse on F1 with income - Req Filing Status Info
    Hi,

    Myself and my wife both are from india. I am currently working on an H1B VISA since October 2005 and my wife is studying on an F1 student VISA (masters degree - 2nd year) and she has got an income (teaching assistantship from school). I was wondering what is the best possible scenario (maximize the gains) for us to file this years taxes? Can we file a joint return? Would that affect the status of wife (from non-resident - resident)? What are the things we need to take care from the future point of view for her if we plan to do change her current non-resident status?

    Also I am paying for my wife's educational expenses such as tuition fees, books, laptop, rent (we stay in different cities) . Can I claim Hope/Life time credits for expenses relating to her education? I also have got 1098-T form from school.

    Thanks.

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

    Apr 16, 2007, 12:42 PM
    Satyam:

    You can file jointly and you BOTH choose to be treated as resident aliens. That will allow you to claim the Hope/Lifetime Learning Credits for the tuition she has paid.

    However, it will ALSO make her liable for Social Security and Medicare taxes in 2007 that she would have been exempt from under her F-1 student visa.

    Something to consider.
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!

US Citizen married filing separately, spouse lives outside US: does spouse need ITIN? [ 7 Answers ]

Hello. I am a US Citizen living in the US full time. My husband is German, living in Europe full time. We got married in the US in September 2006. My husband is applying for a green card but meanwhile cannot enter the US, due to immigration rules. Therefore we have not lived in the US together...

H1B Holder filing status - Wife & Kids never been to US [ 3 Answers ]

Hello, I am a H1B holder in US from Jun 2006. My Wife and kids never been to US. What would be my filing status and can I claim Spouse Exemption. Thanks - SP

NJ resident - Spouse 1099 income from NY & CO [ 3 Answers ]

I'm New Jersey resident entire 2006 and has NJ income. Married filing jointly. Spouse (NJ-resident entire 2006) has following income from New York and Colorado states. Work was performed over the internet from NJ in all three cases. 1) $3500 on 1099-MISC (box 7: non-employee compensation) from...

Applying for ITIN for spouse while filing taxes & Child tax credit exemption [ 1 Answers ]

Hi I am aftab and my wife and kid joined me in 2006, as they are on H4 they are not eligible for a SSN so I need to apply for an ITIN. Please explain the process as to Should I be sending my returns filled in manually along with the application for ITIN for my spouse and kid? Will the...

HIB holder and income tax [ 1 Answers ]

An HIB visa holder has resided continuously in the US since Oct of 2004. He works for joint-venture and his basic salary is paid in home country (Nigeria) He receives a per diem in the US which is also paid by his employer but paid into his US account. This amounted to $90,000 in 2005. Is he...

View more questions Search