turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Naray12
New Member

Bank Interest Income Exempted for NRA, 1040 NR Tax filing Query

I am non resident alien working in US on G4 Visa 

 

I have earned bank interest income (~$3k from multiple banks in 2023, but I did not submit my W8 BEN form, so I have received 1099 tax form from them). I know the bank interest income is tax exempt; in this case given I have received 1099 tax form do I need to compulsorily file 1040 NR tax form with IRS and appropriately report the bank interest income?, or can I not file?. (this is the only income other than my salary I have received in 2023)

 

If I need to file 1040 NR, where do I report this ~3k bank interest?

 

From IRS website I see “If NRAs use Form 1040-NR, U.S. Nonresident Alien Income Tax Return, to report their income, then such nontaxable interest income shall not be reported anywhere on Form 1040-NR except in response to question L on page 5 of Form 1040-NR”

 

But in the Question L in 1040NR OI schedule (https://www.irs.gov/pub/irs-pdf/f1040nro.pdf), it asks me to quote a tax treaty article?, which tax treaty article do I quote related to exemption of $3k bank interest? (am from India)

 

 

 

Your response is much appreciated

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Bank Interest Income Exempted for NRA, 1040 NR Tax filing Query

You should be asking on the sprintax site.

 

 

If you are a non-resident alien, your return must be filed on Form 1040NR, which cannot be prepared using TurboTax.  You can use TT’s partner, sprintax:

https://www.sprintax.com/non-resident-alien-tax-1040nr-turbotax.html

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Naray12
New Member

Bank Interest Income Exempted for NRA, 1040 NR Tax filing Query

Thanks but sprintax doesnt have a discussion forum to ask my tax question, hence posted here, appreciate if you can help with my query

AmyC
Expert Alumni

Bank Interest Income Exempted for NRA, 1040 NR Tax filing Query

Sprintax is set up to help you. They have round the clock support to help you. That is out of scope for us.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies