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    arvind053's Avatar
    arvind053 Posts: 1, Reputation: 1
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    #1

    Apr 4, 2006, 11:42 AM
    H1B Taxes Joint Return 1099-INT
    I have been on F-1 visa since Aug 2001, and then on F-1/OPT till Feb 2005. I converted to H-1B on Mar 1st 2005 which I still maintain. I got married Feb 2006 and my wife is also currently on H-1B. I also have some interest income (1099-INT) during 2005.

    1. Do I meet the Subst. Presence Test to qualify as resident alien for 2005 ? If so, what forms do I need to file ? Can I still claim the $5000 standard + $3200 personal exemptions ?
    2. Can I file as resident-filing jointly for 2005 ?
    3. How do I show the 1099-INT amounts or is it used only if I itemize my deductions ?
    4. I contributed to my company's 401k plan, so how do I show that non-taxable income , if at all ?

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

    Apr 4, 2006, 09:54 PM
    1) Yes, you qualify for the Subst. Presence Test for 2005 and should file as a resident alien. File Form 1040, 1040A or 1040EZ. Yes on the Standard Deduction and personal exemption.

    2) No, you were not married on 31 Dec 05, so you cannot file jointly.

    3) Report the 1099-INT on Line below the wages line.

    4) You do not show that on your tax return.
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