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

    Apr 10, 2007, 09:51 AM
    F1 opt H1B
    Please respond for some query on Taxes as listed below……
    Tax Return Query.. …
    I am an Indian Citizen.. Came to US for Masters in 2004
    All status changes:

    F1 Aug 2004 to Dec 2005
    OPT – Jan 9 2006 to Oct 1 2006
    H1B from Oct 1 2006.

    I had filed 1040NR-EZ for 2004 return, 1040EZ for 2005… Which form should I use to file 2006 return? Are the returns filed before correct?

    I have a student loan from a bank in India and paid $1500 as interest money in 2006.. can I take this as a deduction?

    Can I claim any expenses as deduction …while I was on F1 & Opt status? (Tution fees,books, or any other) I have not claimed any of these on 2004 and 2005 return.

    Also I had moved from SC where I was on F1 status and then moved to CA in 2006 Feb for Job and staying in CA since then. My employer paid $5000 as moving expenses.. does this need to be shown anywhere? What other deduction I can claim with this move.

    I bought a used car and paid taxes… can this be deducted?

    I have received two W2 forms… one for OPT status till Sep 2006 and other from oct to dec 2006.. (H1B status with SS & Med Tax deductions).. Should I add both w2 wages…please guide?
    My opt status started in Jan 9 2006 but I started my job in March 2006.. can I deduct my living or any expenses while I was unemployed?

    I had enrolled for 401k plan while I was on H1B ….any thing to do for that?

    I hope all questions make sense. Please guide for any good links on taxes for my status.

    Thanks

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

    Apr 18, 2007, 07:51 AM
    You filed incorrectly for 2005. For both 2005 and 2006, you should file Form 1040NR-EZ. You will need to amend oyur 2005 return with Form 1040X and attach a correctly-prepared Form 1040NR-EZ.

    For student loans to be deductible, they must be drawn on U.S. banks or financial institutions.

    As a non-resident alien, you CANNOT deduct any education costs.

    You do NOT need to show your moving reimbursement UNLESS you claim moving expenses as a deduction.

    Yes, combine the two W-2s.

    You CANNOT deduct your living expenses while unemployed.

    You need do NOTHING regarding your 401K.

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!

Opt to h1b [ 1 Answers ]

Hi This is my summary for the tax year... Indian Citizen... Entered USA on F1 on AUG 2003, Worked on OPT from NOV 2005 to SEP 2006, on H1 from OCT 2006 till the year end. Got married on Dec. 15, spouse indian citizen, and never entered U.S.A. returning with spouse frm India on Jan 29...

Out of Country (during H1B) and Change from F1 to OPT to H1B [ 5 Answers ]

Hi, First of all a great service and a great site with loads of useful information. Here is my scenario: Dec 2003 to May 2005 - F1 Status June 2005 to Sept 2005 - OPT (F1) Status Oct 1, 2005 to Dec 2005 - H1B status My company sent me to its branch in INDIA office for a special project...

F1-opt-h1b [ 5 Answers ]

Dear Atlanta Tax expert: I was F1 in Jan 2005, Start OPT on Feb 1, Changed to H1-B on Oct 1. But lived in the U.S. for only 20 days after I got H1-B, taking business trip in China in the rest of the days. I do not meet substantial presence test. I should be in Non-residence status...

F1 opt to h1b [ 1 Answers ]

Hello Experts By the way of introduction My name is Aleem Khan from CT. I have a question on my tax returns. I had OPT from Dec 16th 2004 to Dec 15 2005 and I was working during this period. But my status changed from F1 to H1 in October 2005. How do I have to file my taxes as F1 (OPT)...


View more questions Search