Occasionally a U.S. resident filing Form 1040 will receive Form 1042-S. There is no menu line in the resident return to enter this form, since it's a form intended for nonresident filers, so you will need to examine the form to determine the nature of the income and the best place in the return to enter it.
If it reports interest, enter it as if you received form 1099-INT.
You can enter your form 1099-INT by following these steps:
- In TurboTax, open your tax return
- Click on Federal in the left-hand column, then on Wages & Income
- Continue to All Income, locate the section Investments and Savings and click on Show more
- Click Start next to Interest on 1099-INT.
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