Yes, you can include this information on your 1040 as follows:
For your 1042-S with Code 1 (interest income):
You will enter this as interest income as if you received a 1099-INT.
To
enter this interest income in TurboTax Online or Desktop, please follow these
steps:
- Once
you are in your tax return, click on the “Federal Taxes” tab
("Personal" tab in TurboTax Home & Business)
- Next click on “Wages &
Income” ("Personal Income" in TurboTax Home & Business)
- Next click on “I’ll choose
what I work on” (jump to full list)
- Scroll down the screen until
to come to the section “Interest and Dividends”
- Choose “ Interest on
1099-INT” and select “start’
- Select "I'll type it in
myself"
- Enter the name of the brokerage firm and the amount (in USD) in box 1
- Check the box "My form
has info in more than just box 1 (this is uncommon)".
- Enter any Federal income taxes withheld in box 4
For your 1042-S with Code 6 (dividend income):
You will enter this as dividend income as if you received a 1099-DIV.
To enter this dividend income in TurboTax Online or Desktop, please follow these steps:
- Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
- Next click on “Wages & Income” ("Personal Income" in TurboTax Home & Business)
- Next click on “I’ll choose what I work on” (jump to full list)
- Scroll down the screen until to come to the section “Interest and Dividends”
- Choose “ Dividends on 1099-DIV” and select “start’
- Select "I'll type it in myself"
- Enter the name of the brokerage firm and the amount (in USD) in box 1a (If qualified dividends also include this amount in box 1b.)
- Check the box "My form has info in more than just box 1 (this is uncommon)".
- Enter any Federal income taxes withheld in box 4
