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March 11, 2021
Question

I received a 1042-S Code 15, how do i report this in Turbo Tax. I am a US citizen living in Canada.

  • March 11, 2021
  • 1 reply
  • 0 views
This 1042-S is a withdrawel from my US 401K plan from the CARES Act due to Covid.  There is a withholding amount on the 1042-S.

1 reply

ReneeM7122
March 11, 2021

To record your tax withholdings, in TurboTax online program, please use these steps:

1.  Sign back into the program and select Take me to my return 

2.  At the right upper corner, in the search box, type in estimates paid and Enter

3.  Select Jump to estimates paid

4. On the screen, Estimates and Other Income Taxes Paid, select the right section to enter information 

 

By the way, if you are a US citizen you should NOT have received a 1042S.  You should tell the payer that you are a US citizen.  The form is for "foreign persons," which does not include US citizens.

 

Here are IRS instructions for Form 1042-S