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Get your taxes done using TurboTax
Here is how to report your 1042 S income.
To report the 1042-S
- Open your return in TurboTax
- Click on Wages & Income
- Scroll down to All Income
- Scroll down to Less Common Income
- Scroll down to Miscellaneous Income, 1099-A, 1099-C
- Click start
- Scroll down to Other reportable income
- Answer yes and record this as 1042S-Schlorship Income and the amount.
If there is an amount listed in Box 7A for federal tax withholding
To report the US federal tax paid:
- With your return open
- Click on Deductions & Credits
- Scroll down to Estimates and Other Taxes Paid\
- Click on Other Income Taxes
- Scroll down Other Income Taxes
- Click on Withholding not already entered on a W-2 or 1099
- List the amount in Box 7A listed on the 1042S.
As an FYI, the only deduction or credit you may receive here is the federal tax withholding.
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‎February 12, 2025
3:03 PM