Hi
I am a resident alien and
received both W2 and 1042s (code16: scholarship and fellowship) from
school. On 1042s, '3a. exemption code is 00, 3b. tax rate is 14.00, 4a. exemption code is 16, and 4b. tax rate is 00.00'. After searching for several Q&A here and on the web, I am
still confused about the way I should report my refund on Turbotax.
On
the 1042s form, I have two income information- gross income and federal
tax withheld. My question is which one I should report.
1)
When I focus on gross income on 1042s (again, this is scholarship from
the school), I can report it on 'Wages and Income/Less common
income/MISC income/Other income not already reported on a Form W-2 or
Form 1099'.
2) Instead, I focus on the amount of 'federal tax withheld'
on the form and report it using 'Deductions and credits/Other income
taxes/Yes/Other income taxes paid in 2017/Withholding not already
entered on a W2 or 1099' option.
3) I do both (1) and (2) simultaneously and the refund is the smallest in this case. I don't understand why...
I am not sure which one is correct. I am
a sixth-year phd student and no longer non-resident alien (i.e.
resident alien as I already mentioned). At the same time, the tax treaty
between my origin country and the US is up to five years. That is, I am
not eligible. The amount of Federal refund is much higher for (2) than
(1). That way, IRS (is expected to) returns the same amount reported in
'federal tax withheld' on 1042s form (i.e. 14% of gross income reported
on the form). When I use the (1), however, the refund estimate is much
lower and its calculation does not seem to consider the amount of federal tax
withheld.
which one do you think is correct? OR should I do both?
Any suggestion or advice would be really helpful!
Thanks!
