Question

[Resident alien] Form 1042-S received from Chase bank

Forum|Forum|4 years ago
March 13, 2022
1 reply
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I received Form 1042-S from Chase bank. I'm resident alien for tax purposes. (I'm not sure why I got this, last year I got 1099-Int).

Details from form:
Box 1 - Income code - 29
Box 2 - 2$ (giving a lot of headache)
Box 3 - Chapter indication - 3
Box 3a- Exemption code 02
Box 4a - Exemption code 14

How do I report this?
If I have to report this, can I still efile?
Since I'm resident alien, should I get this form from chase?

TurboTax Deluxe Online

You might want to contact Chase and ask why you got Form 1042-S since you are a resident.

For now you can enter the $2 interest like this:

Login to your TurboTax Account
Click on "Search" on the top right and type “1099-INT”
Click on “Jump to 1099-INT”
Select "Interest"
Select "Type it myself"
For Received from enter "Chase" and enter "2" in box 1

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MohitAuthor

Thank you @DanaB27 for the reply. I will surely contact Chase.

Is there any problem representing 1042-S as 1099-INT?

Will IRS be looking for my 1042-S?

No, this will not cause any issues with the IRS since you have reported your interest income correctly on your return.

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