Wayne State University

Aim Higher

Frequently Asked Questions (FAQs)


I had bank interest on my checking or savings accounts. Is that earned income and must I file other tax forms?

No. Simple bank interest and interest on CD's (Certificates of Deposit) are not considered earned income for nonresident aliens, and therefore are not reportable. Your bank generally reports this interest on Form 1099, and you should retain this form for your records, but not mail it with your tax filing. However, If you file taxes as a "resident alien", bank interest is taxable income.