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March 27, 2024
Question

How should a qualifying resident report form 1042-s?

  • March 27, 2024
  • 1 reply
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I am an international student who qualifies as a resident for tax purposes, but received 1042-s, and I am wondering how should I report that amount using Turbotax as I don't see 1042-s as one of the forms that I can fill out? Thanks!

1 reply

DaveF1006
March 27, 2024

Yes, here is how to file a 1042-S using Turbo Tax.

 

  1. Log into your account
  2. Select Wages and income>
  3. Less Common income 
  4. Miscellaneous Income, 1099-A, 1099>start
  5. Scroll to the bottom of the page to Other Reportable Income
  6. Other taxable income, answer yes
  7. Then give a brief description of the income and the amount listed. Here describe this as 1042-S and then the amount.

If withholding tax was paid with the 1042-s, here is how to report.

 

  1. Go to Federal 
  2. Deductions and Credits
  3. Estimates and Other Taxes Paid
  4. Other Income Taxes 
  5. Other income Taxes paid in 2023
  6. Withholding not already entered on a W2 or 1099. 
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March 28, 2024

I had exactly the same issue, but after I filed my 1042-S income as miscellaneous income, since I'm under 24, TurboTax thinks it's unearned income for children and is asking me to fill out the forms proving my parents are deceased or filing separately... Is there a way around that?

March 28, 2024

What income code is reported in Box 1 Income Code?

 

 

Box 1 Income Codes are found here on page 37.

 

The income may allow you to report the income other than what will qualify for IRS form 8615 treatment.

 

@marinaaa 

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