@18romil94 ,
(a) Ideally you should file an amended return ONLY when the original return has been processed -- generally when WMR shows refund issued.
(b) For the actual amended return prep. you tell TurboTax that you want to amend a return;
1. Generally you should save the original filed/accepted/processed return with a suffix or other ways such as "2024 Return are original filed " or similar .
2. Make the changes on the return ( the amended one ) --
(i) in your case take the following details from 1042-S --- Box 1 code tells you the type of income -- for your case I suspect it is code 29 implying deposit interest. So you are essentially creating 1099-INT. Here, Box 12a gives you the EIN of the entity acting as withholding agent, Ditto for the name and other details.
(ii) Box 2 gives you the Gross income -- enter this as Interest earned on your 1099-INT equivalent
(iii) Box 7a gives you the federal taxes withheld ( by the agent and transmitted to the IRS )
This should result in TurboTax creating a updated return + a summary sheet -- 1040-X showing the final situation.
You then file this amended return -- e-file is available now a days.
Note that 1042-S generally only withholds the federal taxes and not the State. So you also have to amend the State and probably pay taxes for this income.
Is there more I can do for you ?
