I just filed an 1040A, but I am wondering if I should really file a 1040NR.
- Jan - Sep 2004: I was in F-1 status, thus an "exempt" individual
- Oct - Dec 2004: I changed status to TN
Before 2004, I was in the US in F-1 for 1 year only.
I am now thinking that I can file a 1040NR. If so, do I have to report any interest income from US banks?
Thank a lot for any info.
Income on 1040NR
Moderator: Mark T Serbinski CA CPA
You had a choice, since you non-F1 days are insuffient to FORCE you to file a 1040, but (assuming you are Cdn) you could choose to file 1040 for the entire year, electing that your F1 days not be exempted.
If you file 1040 (or 1040A, or EZ), you do have to report all your world income including interest and F1 income earned in the year.
I think you'll find that filing a 1040NR, since you do not get the standard deduction, would not be beneficial in your case, but you are free to do the calcs.
I'm unsure however, once you have filed a 1040, if you can merrily change to a 1040NR, without a lot of procedural wranglng.
<i>nelsona non grata... and non pro</i>
If you file 1040 (or 1040A, or EZ), you do have to report all your world income including interest and F1 income earned in the year.
I think you'll find that filing a 1040NR, since you do not get the standard deduction, would not be beneficial in your case, but you are free to do the calcs.
I'm unsure however, once you have filed a 1040, if you can merrily change to a 1040NR, without a lot of procedural wranglng.
<i>nelsona non grata... and non pro</i>