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Calliing Chitti Naidu --- The Tax Expert


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Posted

jara e question ki ans cheppu

 

 

oka question turbotax lo check cheste federal refund 4000 vastundi.. consultant deggara chepiste nene 300 kattali federal ki antunnadu..

enduku itla turbotax lo 4000 refund chupistundi ante adi only 1040 dantlo 1040 NR form vundadu annadu... mari anta difference vuntunda?

em cheyali nenu help plzz..

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Posted

natho kuda 1040nr file cheyinchadu last yr agent gadu..i donno whats the diff b/n 1040 and 1040nr.. edo cheppadu non resident aliens ani some bla bla 

Posted

1040NR or 1040 anedi IRS 'Residency Test" meeda depend ayyi untadi.......

 

turbo tax lo nuvvu itemized deductions enter chesinatlu unnavu....anduke return choopisthondi....i guess even you have entered educational credit deduction also in turbo tax.

 

nuvvu assalu emi deductions enter sesavu details telikunda seppalem...

Posted

natho kuda 1040nr file cheyinchadu last yr agent gadu..i donno whats the diff b/n 1040 and 1040nr.. edo cheppadu non resident aliens ani some bla bla 

 

correcte manam masters ki vachi and less than 5 yrs aite 1040 NR file cheyali anta.. kani mari anta diff vuntunda anedi na question

 

$6500 vastundi ani ento santoshapadda... thussu manipinchadu   :(

Posted

1040NR or 1040 anedi IRS 'Residency Test" meeda depend ayyi untadi.......

 

turbo tax lo nuvvu itemized deductions enter chesinatlu unnavu....anduke return choopisthondi....i guess even you have entered educational credit deduction also in turbo tax.

 

nuvvu assalu emi deductions enter sesavu details telikunda seppalem...

 

no only standard deductions chesa... and education deduction em pettaledu

Posted

correcte manam masters ki vachi and less than 5 yrs aite 1040 NR file cheyali anta.. kani mari anta diff vuntunda anedi na question

 

$6500 vastundi ani ento santoshapadda... thussu manipinchadu   :(

 

na paristithi ento naku 3k chupistundi vadiki istey entha antado ae 500-1000 antademo :(

Posted

na paristithi ento naku 3k chupistundi vadiki istey entha antado ae 500-1000 antademo :(

 

:((

Posted

no only standard deductions chesa... and education deduction em pettaledu

 

if you file 1040NR, u cant do itemized deductions...that is said, that's why agent is not claiming itemized deductions.

 

so now nee usually you need to pay tax according to tax brackets. once you paid this, remaining withheld amount is given back to u as return.

that is the logic.

 

so does your withheld amount with federal exceeds more than 30%?

Posted

if you file 1040NR, u cant do itemized deductions...that is said, that's why agent is not claiming itemized deductions.

 

so now nee usually you need to pay tax according to tax brackets. once you paid this, remaining withheld amount is given back to u as return.

that is the logic.

 

so does your withheld amount with federal exceeds more than 30%?

 

NR lo itemized cheyarada? mari vadu enti moving expenses chupiddam avi ivi chupiddam antadu

Posted

NR lo itemized cheyarada? mari vadu enti moving expenses chupiddam avi ivi chupiddam antadu

 

Sorry....i meant standard deductions...........you can take that only as a student by referring to india us treaty.

 

as an employee of company withing five years if you are filing 1040 NR below itemized deductions only:-

 

  • State and local income taxes,
  • Charitable contributions to U.S. non-profit organizations,
  • Casualty and theft losses,
  • Miscellaneous itemized deductions, and
  • The ordinary and necessary expenses related to a U.S. trade or business.
  • miscellenous itemized deductions:-

 

  • Amortizable premium on taxable bonds.

  • Casualty and theft losses from income-producing property.

  • Federal estate tax on income in respect of a decedent.

  • Gambling losses up to the amount of gambling winnings.

  • Impairment-related work expenses of persons with disabilities.

  • Loss from other activities from Schedule K-1 (Form 1065-B), box 2.

  • Losses from Ponzi-type investment schemes.

  • Repayments of more than $3,000 under a claim of right.

  • Unrecovered investment in an annuity.

expenses related deductions:-

 

  • Appraisal fees for a casualty loss or charitable contribution.

  • Casualty and theft losses from property used in performing services as an employee.

  • Clerical help and office rent in caring for investments.

  • Depreciation on home computers used for investments.

  • Excess deductions (including administrative expenses) allowed a beneficiary on termination of an estate or trust.

  • Fees to collect interest and dividends.

  • Hobby expenses, but generally not more than hobby income.

  • Indirect miscellaneous deductions from pass-through entities.

  • Investment fees and expenses.

  • Legal fees related to producing or collecting taxable income or getting tax advice.

  • Loss on deposits in an insolvent or bankrupt financial institution.

  • Loss on traditional IRAs or Roth IRAs, when all amounts have been distributed to you.

  • Repayments of income.

  • Repayments of social security benefits.

  • Safe deposit box rental, except for storing jewelry and other personal effects.

  • Service charges on dividend reinvestment plans.

  • Tax advice fees.

  • Trustee's fees for your IRA, if separately billed and paid.

Moving related expenses can be claimed but needs to qualify....see the link

Posted

neek evado bisket vestunnatunnadu..

 

tell me ur status..and approximate Pay...  single or married...file cheskovachu...appudu cheppagalanu

Posted

neek evado bisket vestunnatunnadu..

 

tell me ur status..and approximate Pay...  single or married...file cheskovachu...appudu cheppagalanu

 

bhayya nen opt mida unna...single...approx pay 52k 

Posted

bhayya nen opt mida unna...single...approx pay 52k 

 

 

Medicare and SSN emaina cut ayinaya....

 

 

tax enta cut aindi total...

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