- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do I report 1042-S Income Code 16 (received even though I am a resident alien)?
I received a 1042-S income code 16 from the university where I was doing a part-time MBA and received a scholarship. Even though I file a regular 1040 (not a 1040NR), I received this 1042-S.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do I report 1042-S Income Code 16 (received even though I am a resident alien)?
Per IRS, income code 16 is for Scholarship and Fellowship/Grants. As a resident for tax purposes, you would report it as receiving the scholarship to offset your qualified tuition expenses.
In TurboTax online edition, please follow these steps:
1. After sign into your account and select Take me to my return
2. At the right upper corner, in the search box, type in 1098t and Enter
3. Select Jump to form 1098T
4. On screen, "Do you want to enter your higher education expenses?" answer Yes.
5. Go through the step-by-step interview questions
6. On screen, "Did you get a 1098-T from school for 2017?" make your selection to continue
Still have questions?
Make a post