[psnanda]

Hi Folks,

I am just curious as to what kind of amount I am looking for as tax return, if at all I get any. I just received my W2-2014 form from my employer, and will be filing tax returns soon. I also want to get an idea as to which forms should I be filing, and what approximate dollar amount I can see as tax return. I know Indian students on OPT have some exemptions.

My W2 details are:
Filing in state of CA.

Gross Pay ($24,640.00) - Less($560.00 , Medical Insurance) = $24,080(Reported W2 Wages- Box 1).

Payroll taxes (Box 3 and Box 5)= NIL (Indian student on initial 12 month OPT period).

Box 16 (CA state wages, tips etc.) = $24,080.

Box 2 (Federal Income taxes withheld) = $3924.42
Box 17 (State Income tax) = $1286.28

Taxable Marital Status : SINGLE.
Exemptions/Allowances : Federal = 1 , State = 1.

EDIT : Forgot to mention Box 14 of W2 : CA SDI : $240.80

What forms should I be using for tax filing. I am new to this and really appreciate any help.

[AtlantaTaxExpert]

As an Indian student on a F-1 visa (presumably for LESS than five years), you will need to file Forms 1040NR-EZ and 8843, plus the California return (which can be efiled).

The two federal forms must be mailed to Austin, TX.

By virtue of Article 21(2) of the U.S.-Indian Tax Treaty, you are allowed to claim the $6,200 standard deduction. As a result, your FEDERAL refund is $2,289, while your California refund is $1,035.

You are NOT entitled to any education credit or deduction, even if you receive a Form 1098-T.

You CAN deduct student loan interest if you made any payments in 2014.

If you need professional help to file, please email me at the email address in my profile.

[psnanda]

@By virtue of Article 21(2) of the U.S.-Indian Tax Treaty, you are allowed to claim the $6,200 standard deduction. As a result, your FEDERAL refund is $2,289, while your California refund is $1,035.;Thank you so much.@If you need professional help to file, please email me at the email address in my profile.;I will definitely reach out to you if I need to file my returns professionally. Thank you.

[AtlantaTaxExpert]

Glad to help!