I am currently on F1 student visa working on my OPT. I am a non resident alien and fill 1040NR. I sent more than 10K to my Indian bank account. Most of the amount, I sent back to my mothers account as I had taken education loan from her. I also earned some interest on the amount. Do I need to pay Fbar or show the interest while filling my tax form ?
We really need to know when you first entered USA with F-1--- was this your first visit? The reason is -- firstly, if you are still a non-resident alien, then your interest earned in India is not subject to US taxes ; secondly, TurboTax does not support the form 1040-NR which you needed to file and thirdly, FBAR regulation applies only to US Citizens/ Residents ( Green Card ) and Resident for Tax Purposes.
Did the income while in the USA bank earn some interest ?
So we need info from you before providing a response, please
Namaste ji
We really need to know when you first entered USA with F-1--- was this your first visit? The reason is -- firstly, if you are still a non-resident alien, then your interest earned in India is not subject to US taxes ; secondly, TurboTax does not support the form 1040-NR which you needed to file and thirdly, FBAR regulation applies only to US Citizens/ Residents ( Green Card ) and Resident for Tax Purposes.
Did the income while in the USA bank earn some interest ?
So we need info from you before providing a response, please
Namaste ji
I am on F1 visa from Aug 2015 (less than 5 years). This is my first time visa for US. My F1 is expiring in 2020
So then you are still Non-Resident Alien and still exempted from counting days present -- so my above reply stands --- use 1040-NR ( not supported by TurboTax --( SprinTax is their partner, or visit your school foreign student office for help ) AND interest earned in India do not come US taxes. Also no FBAR reporting for you.