How to report 1042-S

Forum|Forum|1 year ago
April 11, 2024
1 reply
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As a J-1 visa holder in the U.S., I received a stipend from a U.S. scholarship. Initially, I filed my taxes as a Non-Resident. This year, I became a Resident for tax purposes after meeting the Substantial Presence Test (SPT), prompting me to switch from Sprintax to TurboTax for filing my taxes.

I received a Form 1042-S, which reports my gross income and the federal tax withheld. TurboTax doesn't offer a direct option to upload Form 1042-S. Following advice from the TurboTax community, I manually entered the information under "Less Common Income > Miscellaneous Income, 1099-A, 1099-C" and reported the withheld federal tax as an Estimated Tax Payment.

However, I received a notice from the IRS stating that the Estimated Tax Payment wasn't applied. Previously, when filing as a Non-Resident, the withheld tax from Form 1042-S was listed under section 25 of the 1040NR. This year, using TurboTax as a Resident, I entered the withheld tax manually, and it appeared in section 26 of the 1040.

My Social Security Number (SSN) is correctly listed on the Form 1042-S.

My question is about how to correctly report the Form 1042-S information in my tax filing, given the switch to TurboTax and my new status as a Resident.

TurboTax Deluxe Online

Best answer by DaveF1006

Here is the complete procedure to report, which includes the income tax withheld.

Open your return in TurboTax
Click on Wages & Income
Scroll down to All Income
Scroll down to Less Common Income
Scroll down to Miscellaneous Income, 1099-A, 1099-C
Click start
Scroll down to Other reportable income
Answer yes and record this as 1042S income and then the amount.

Now to report the tax withheld.

With your return open
Click on Deductions & Credits
Scroll down to Estimates and Other Taxes Paid\
Click on Other Income Taxes
Scroll down Other Income Taxes
Click on Withholding not already entered on a W-2 or 1099

DaveF1006Answer

Here is the complete procedure to report, which includes the income tax withheld.

Open your return in TurboTax
Click on Wages & Income
Scroll down to All Income
Scroll down to Less Common Income
Scroll down to Miscellaneous Income, 1099-A, 1099-C
Click start
Scroll down to Other reportable income
Answer yes and record this as 1042S income and then the amount.

Now to report the tax withheld.

With your return open
Click on Deductions & Credits
Scroll down to Estimates and Other Taxes Paid\
Click on Other Income Taxes
Scroll down Other Income Taxes
Click on Withholding not already entered on a W-2 or 1099

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Brian292

Thanks, but i just don't see how to "Click on Wages and Income" etc.It used to be with TT that you could find individual forms like Wages and Income and follow your advice ending with reporting the 1042 form (And get the withholding amount back). What am I missing?

Brian292

This information is the same provided in 2019. But it seems TT has changed the format or something. When I click on "Wages and Salaries", for example, it takes me to the page where I can report the W2 forms add some extra 1099s but it doesn't lead to anything else. Sorry to be so dense, but I would love to follow your logical train to where I can file with the 1042 S but I just can't see it. I can't see paying several hundred $ to a live tax expert and get the same info. Again, I thank you.