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Filing Taxes on an H1-B

Filing Taxes on an H1-B

Old Mar 31st 2011, 5:10 am
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Default Filing Taxes on an H1-B

Hey everyone. A few hours spent googling tax returns on an H1-B was not a very helpful few hours.

Does anyone know which forms I should be filling out or where I can find out which forms I should be filling out? Right now I get the impression that it's the 1040 NR-EZ and the 8843. And something else? I should have a very simple return - no deductions, no exemptions, no dependents, it's the kind of return that would probably take ten minutes if I were a citizen. But the visa makes things complicated...

Alternatively, are any of the free tax sites listed on the irs website suitable for H1 holders? I tried using H&R Block's on-line filing service but it doesn't let you file the 1040 NR EZ online.

I also tried searching this forum but couldn't find any recent threads.

Thanks for your suggestions,
AR

Last edited by agentred; Mar 31st 2011 at 5:21 am.
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Old Mar 31st 2011, 9:55 am
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Default Re: Filing Taxes on an H1-B

Originally Posted by agentred View Post
Hey everyone. A few hours spent googling tax returns on an H1-B was not a very helpful few hours.

Does anyone know which forms I should be filling out or where I can find out which forms I should be filling out? Right now I get the impression that it's the 1040 NR-EZ and the 8843. And something else? I should have a very simple return - no deductions, no exemptions, no dependents, it's the kind of return that would probably take ten minutes if I were a citizen. But the visa makes things complicated...

Alternatively, are any of the free tax sites listed on the irs website suitable for H1 holders? I tried using H&R Block's on-line filing service but it doesn't let you file the 1040 NR EZ online.

I also tried searching this forum but couldn't find any recent threads.

Thanks for your suggestions,
AR

I did my tax as an L1 this year, I used Turbo Tax, I had to buy up to the Premier to get the forms I needed access to included (i.e. non US income and related).

Is the NR form for Non Residents?, While you might not have a GC, if you meet the requirements (days in the US), you will file as a resident.

Also if you have any bank accounts outside the US you might want to Google FBAR.
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Old Mar 31st 2011, 2:49 pm
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Default Re: Filing Taxes on an H1-B

Originally Posted by tht View Post
I did my tax as an L1 this year, I used Turbo Tax, I had to buy up to the Premier to get the forms I needed access to included (i.e. non US income and related).

Is the NR form for Non Residents?, While you might not have a GC, if you meet the requirements (days in the US), you will file as a resident.

Also if you have any bank accounts outside the US you might want to Google FBAR.
Ok, thank you, I actually will have to file an FBAR it seems.

And I was there for the whole year, so I guess I file form 1040EZ...

So, it's the FBAR, form 8843 (?) and the 1040EZ? Will get Turbotax tonight and try it out, thanks again,
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Old Mar 31st 2011, 4:07 pm
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Default Re: Filing Taxes on an H1-B

We have always used Turbo Tax ever since we arrived here under our L1 visas, then as Green Card holders and now as citizens.

It has all the forms you need whatever your situation. Just folllow the prompts and it brings up all the forms you need.
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Old Mar 31st 2011, 7:39 pm
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Default Re: Filing Taxes on an H1-B

We are here on H1B/H4 visas and used Turbo Tax. First year we had to mail in our tax return along with paperwork to get the kids ITINs and this year we did it electronically.
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Old Mar 31st 2011, 7:45 pm
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Default Re: Filing Taxes on an H1-B

Perfect, thank you all for the suggestions. Will get Turbo Tax tonight and try again, hopefully less and and more !
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Old Mar 31st 2011, 9:42 pm
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Default Re: Filing Taxes on an H1-B

Use the online version of turbo tax, will still cost you when you file, but saves having to go buy the software.

I now use a cheaper software but that's because I now know what I am doing with my taxes, Turbo Tax is great for learning, jsut follow the interviews.
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Old Mar 31st 2011, 10:18 pm
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Default Re: Filing Taxes on an H1-B

Not sure why you're thinking of filing 8843, OP, that's for those who want to exclude days of presence in the US when deciding their residency, as an H1 you don't really have that option.

If you were living in the US for all of 2010 think of yourself as a regular US person for tax purposes, your H1 status is irrelevant. But remember you are likely to be taxed on income from overseas sources as well as US sources... (same as US people with overseas income would be). And the FBAR if you have enough in overseas accounts.

(If you were there for all of 2010, should you have filed for 2009?? You might want to look into that before the IRS look into it for you )
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Old Apr 1st 2011, 10:43 pm
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Default Re: Filing Taxes on an H1-B

I have no clue, because we used H&R Block to do ours, hubby is on an H1-b and we needed ITIN numbers so we just went to their office and they did everything, seemed pretty straightforward, and we have to go back and sort out the NY stuff, which we can't do until they get the return from CT. Sorry I've been absolutely no help whatsoever but I am so bored at the moment, it stops me from shooting myself
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Old Apr 11th 2011, 7:15 pm
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Default Re: Filing Taxes on an H1-B

Hi everyone and in advance "sorry" as it might be a very stupid question..
what is this tax filing that you are talking about?
Basically my husband just got a job in California (newport beach) and we are waiting for visa approval (H1). so in the mean time we are trying to know how much things are to budget ourselves, especially since i wont be allowed to work
So the idea is to know approximately how much will be his salary after tax etc.. which seem to be very hard to know as we are not sure what to tick on the calculators tools.
So, this filing.. is this something you have to do separately on the top of the salary taxes each month?
I realise this posting is quite confusing, which basically reflect our current situation
thank you for your help

ps: if you have any recommendations for us/ things to know on tax etc.. any help is greatly appreciated!
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Old Apr 11th 2011, 7:52 pm
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Default Re: Filing Taxes on an H1-B

Originally Posted by laety View Post
Hi everyone and in advance "sorry" as it might be a very stupid question..
what is this tax filing that you are talking about?
Basically my husband just got a job in California (newport beach) and we are waiting for visa approval (H1). so in the mean time we are trying to know how much things are to budget ourselves, especially since i wont be allowed to work
So the idea is to know approximately how much will be his salary after tax etc.. which seem to be very hard to know as we are not sure what to tick on the calculators tools.
So, this filing.. is this something you have to do separately on the top of the salary taxes each month?
I realise this posting is quite confusing, which basically reflect our current situation
thank you for your help

ps: if you have any recommendations for us/ things to know on tax etc.. any help is greatly appreciated!
You have to file a tax return every year, you can file jointly as a married couple and you enter all the info from your husbands W2 (summary of pay at end of year) which shows annual Wages, and various tax payments that have been deducted from his pay through out the year.

You get deductables for all kind of things which is fairly easy to follow on Turbo Tax or similar if you have straight forward taxes.

It can get quite complex depending on your circumstances though, you have to enter any foreign income, so if you are renting your UK house out you have to enter that.

It then calculates if you owe on your state and/or federal taxes or if you are due a refund.


If you have more than the basics to enter its often better just to pay someone to do it for you.
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Old Apr 11th 2011, 8:26 pm
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Default Re: Filing Taxes on an H1-B

Thanks N1cky! we are planning to rent our place here, which should just cover the monthly mortgage, when filling this form, do we show we are playing mortgage less rent received or do we just declare the rent received? I guess im worried that they might tax us more eventhough we not really making any profit, if that makes sense?
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Old Apr 11th 2011, 8:31 pm
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Default Re: Filing Taxes on an H1-B

Originally Posted by laety View Post
Thanks N1cky! we are planning to rent our place here, which should just cover the monthly mortgage, when filling this form, do we show we are playing mortgage less rent received or do we just declare the rent received? I guess im worried that they might tax us more eventhough we not really making any profit, if that makes sense?
You declare rent received, less interest paid on your mortgage, repairs, insurance, management fee, and then you get a depreication allowance. Not sure how the depreciation works, we pay an accountant to do ours. This year on the rental we made a small profit in the UK, and a big loss in the US.
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Old Apr 11th 2011, 8:32 pm
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Default Re: Filing Taxes on an H1-B

Originally Posted by laety View Post
when filling this form, do we show we are playing mortgage less rent received or do we just declare the rent received?
typo : we are paying mortgage less rent received
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Old Apr 13th 2011, 4:14 am
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Default Re: Filing Taxes on an H1-B

Hey everyone,

I just wanted to chime in and say I finally used Turbotax tonight and it was... fine. It took maybe 30 minutes for federal and state. I declared my foreign bank accounts, entered my social security, W2 form, and it filed automatically. I have to post the form with my foreign bank accounts but it provided an address and printouts of the form.

No huge refunds expected, but this was A LOT less painful than I expected Thank you all for the suggestions.

For anyone who reads this thread for their 2011 filing and is in a similar situation as me (H1, no extra income, very few deductions) you should definitely shell out for Turbotax, the small payment is more than worth the hassle saved.

Unless I get audited, in which case DAMN YOU TURBOTAX!!!!!!!!!!!!! Fist shaking at the sky!!!!!!!!!!!!!!
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