I am single and lived in Virginia from 2006 to 2010 as a resident(alien).
I moved out of VA on June 2010 to my home country i.e India and donot plan to go back USA.
My stay in VA in 2010 was less than 183 days , ie it was around 160 days.
but during those 160 days my permanent residence and work place was VA.
All my federal income received (W2) was during VA stay.
After that I didnt received any federal income, nor i received any foreign income after
moving out of VA. So all my income received in 2010 was only during those 160 days
stay in VA (with exception of USA+NRI bank interest which i received till dec).
I didnt lived or worked in any other State in 2010.
Now my questions are
Q1) I filed federal return as resident-alien (not dual-status) but if i go as per pub 519, i
think exception applies only for first-year not the last-year, so wanted to confirm if i did correct?
Q2) for Virginia state taxes, I qualify for both status (part year resident as well as full year). So i was thinking which status will give me maximum tax benefits.
If I go straight as full resident then I need to add my India-NRI acccount interest of $6K to VA gross income (which i did in 1040 too). so it gets taxed in VA.
Now If i file as Part year resident then I need not show the income received from non-virginia sources and NRI account interest is considered as non-VA source income(as per their website). I also need to pro-rate deduction/exemption, but since i didnt have income from any other state so there is nothing to prorate (or i need to pro-rate based on bank interest?)
So my question is does NRI interest gets taxed in VA in both scenarion ??
and how do i pro-rate deductions/exemtions if i have worked only in 1 state..
Below is para from VA site which qualifies me for both status
"Part-year residents have several options for reporting and computing Virginia taxable income:
?Filing as a part-year resident: A part-year resident usually files as such on Form 760PY.
You must prorate your personal exemptions and standard deduction. A subtraction is allowed for non-Virginia income.
?Filing as a resident: If you are a part-year resident,but your entire federal adjusted gross income is from Virginia sources,
you can file as a resident on Form 760. Filing as a resident allows you to claim full personal exemption and standard deduction amounts,
rather than prorating these items based on length of residence"
Is NRI-Account interest taxable in State return, filing as Part-Year Resident
Jump to
- Indian Investments General & News
- Pune
- Regional Forums
- Life in India
- India
- Forum Usage FAQ
- News, Politics, Current Affairs - India
- Club Office (Member Only)
- R2ICLUB Admin
- Investment Basics by RRK
- Indian Insurance, LIC, ULIP Plans
- Rajesh's FEMA & Tax Forum
- Indian Post Office Schemes & Fixed Income
- Delhi-NCR
- Indian Taxes
- Indian Real Estate & Home loans
- Indian Bank Accounts & Money Transfer
- Indian Mutual Funds, Stocks, IPO, PAN card
- India Finance, Investments & Taxes
- Kids Education - Abroad (School /College)
- USA Immigration, H1, GC, USC
- Life in USA
- Life in Other Countries
- Life in UK, Europe
- News, Politics, Current Affairs - Abroad
- Indian Jobs & Career
- Business Ideas, Startup, Self-Employment
- Career - Change & Development
- Job Search, Preparation, Interview
- USA Jobs & Career
- Mumbai / Pune Jobs
- Jobs Wanted
- Chennai Jobs
- Hyderabad Jobs
- Bengaluru Jobs
- Delhi / Gurgaon /Noida Jobs
- Jobs Available
- Salary, CTC, Benefits
- Life Abroad
- Self Development
- Jobs, Career, Business
- Indian Schools & Education
- Coimbatore & Tamil Nadu
- Kolkota & W Bengal
- Kerala Cities
- Hyderabad & Andhra Pradesh
- Bengaluru, Karnataka
- Other Indian Cities
- Chennai
- Mumbai
- R2I Packing, Shipping Questions
- Asset Allocation Plans (AAP)
- US India Dual Tax, Cross country tax, FBAR
- Other countries Investments & Taxes
- USA Banks, Savings, Credit Card
- USA Finance, Investments and Taxes
- R2I - Goods to Take to India
- R2I Planning & Preparation
- R2I Charity Drive
- R2I Settle Down
- OCI, PIO, Visa, Citizenship
- R2I Build Social/Professional Network (Members Only)
- R2I Diaries
- USA Fixed Income, Insurance, Social Security
- I Wish to Share Container
- To Pune, Mumbai, Maharashtra
- To Kolkata, Eastern India
- To Other India cities
- Back to USA
- To Chennai, Bengaluru, Tamil Nadu, Karnataka
- To NCR, North India
- Shipping Companies & Experience
- To Hyderabad & AP
- R2I Shipping Forum
- R2I Dilemma
- Women's Corner
- RRK Private Threads Archive
- Misc Classifieds
- Cuisine
- Banter & Chat (Member Only)
- General
- Health, Exercise
- Family & Kids
- Sports, Music, Movies, Travel, Entertainment,
- Science, Technology, Electronics
- Member Blogs & Articles
- Religion, Philosophy & Ethics
- Return To India (R2I) Topics
- Photos (Member only)
- Community Lounge
- Duplicate Member Detector
- TAT Admin Office
- Admin Back Office
- USA Mutual Funds, Stocks, Derivatives
- USA 401k/IRA/Roth Strategy
- Global Finance & Economy
- USA Finance & Investments General
- USA Taxes
- USA Real Estate & Home loans