Question

Filing a 1042-S with Income Code 15. There are varying degrees of searchable details not clear on entering this detail for completing filed extension 2022 Federal Taxes.

Forum|Forum|2 years ago
August 10, 2023
1 reply
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Income Code 15 – Payee not subject to chapter 4 withholding

TurboTax Live Deluxe Online

Employee

@miajudith1 , assuming that you are a Non-Resident Alien and probably living in another country ( 1042-S are generally issued to foreign persons), your 1042 details imply that you have US sourced income ( code 15 income code includes pensions, annuities, insurance payment etc., etc. .
Assuming above is correct, you cannot file using TurboTax because you have to use form 1040-NR ( not supported by TurboTax ). You should consult a local tax professional ( familiar with US tax filing ) or SprinTax ( TurboTax partner ).

Please come back and let us know if we can be of further help ( especially if I am in error in my assumptions ).

pk

M

miajudith1Author

A TurboTax chat support person aligned me with the answers I needed to continue tax filing. I appreciate the reply. Having a 1099-R and the 1042-S Income Code 15, aided in answering the questions. Each from the same Payee, but reporting in two methods based on my living abroad as a retiree, them returning to the United States.

P

pk12_2

Employee

@miajudith1 , thank ypu for your response to my questions. What I understand out of this is as follows :

(a) you are US person ( citizen / GreenCard) -- please confirm this

(b) you are retired from US work and living abroad ( which country ? ) -- because there may be treaty considerations here

(c) you received both a 1099-R ( implying you have/had SSN ) and a 1042-S for the same income ( please confirm this ) --- if so one has to be rescinded by the issuer or you will be charged twice for the same income ( please confirm that my understanding is correct )

Please tell me when you left the USA , are you still there and if not when did you return back to USA ?

As I mentioned earlier 1042-S , generally cannot be handled by form 1040 ( TurboTax ). Please answer my questions -- no Personally Identifiable information please , this is public board -- or PM me .

I will circle back once I hear from you