JohnB5677
Expert Alumni

Get your taxes done using TurboTax

Such a small amount will have little effect on your tax return.

  • See below on how to post both the 1099-INT and the 1042-S.
  • Post the 1042-S as described below, not as a 1099-INT.
  • If you choose to mail your return, all income documents should be attached.  Your printout will include extra documentation and calculation worksheets for your files, but not W-2s, 1099s, or any other forms from your employer, bank, brokerage, etc. because TurboTax didn't generate those forms.
  • If you choose to E-file your return you do not have to send any additional forms with your return. TurboTax will provide the IRS with them.

 

To post the 1099-INT:

  1. Select Federal
  2. Wages & Income 
  3. Scroll to Investments & Savings and 
  4. select Show More,
  5. Start or Revisit next to Interest on 1099-INT - Okay! 
  6. Time to kick off your investments! 
  7. Yes, on the screen Did you receive any interest income? then Continue.
    • If you see the screen Your investments & savings or Here's your 1099-INT info, select. 
    • Add investments or add another 1099-INT, then Continue.
  8. Choose how you'd like to enter your 1099-DIV:
    • If you'd rather manually enter your form, select. 
      • Change how I enter my form, select. 
      • 1099-INT, then 
      • Type it in myself on the following screen.
  9. Follow the on-screen instructions to enter the info from your 1099-INT.
  10. When you reach the screen Here's your 1099-DIV info, the form you just entered should be listed.
  • If you need to enter another 1099-INT, select Add another 1099-INT and follow Steps 4-6 above.

Note: Don't combine the amounts from two or more 1099-INT forms if they're from the same payer—enter each form separately.

 

To post the 1042-S

You can report the 1042-S as other reportable income.

 

  1. Open your return in TurboTax 
  2. Click on Wages & Income 
  3. Scroll down to All Income 
  4. Scroll down to Less Common Income 
  5. Scroll down to Miscellaneous Income, 1099-A, 1099-C 
  6. Click start 
  7. Scroll down to Other reportable income 
  8. Answer yes 
  9. Enter description and amount 

  

To report the US tax paid:

  1. With your return open
  2. Click on Deductions & Credits
  3. Scroll down to Estimates and Other Taxes Paid\
  4. Click on Other Income Taxes
  5. Scroll down Other Income Taxes

Click on Withholding not already entered on a W-2 or 1099

 

If this does not completely answer your question, please contact us again and provide some additional details.


 

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