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Business & farm
I think so. First you need to report your 1042-S income, as following:
Click on the "Federal Taxes" tab
Next click on "Wages and Income"
Next click on "jump to full list"
Scroll down the screen until to come to the section "Less Common Income"
Choose "show more", then Miscellaneous Income
Choose "Other Income not already reported on a Form W-2 or Form 1099"
Select - "Yes" for "Other Wages Received"
After 3 screens, select "Yes" for "Any other earned income".
On screen titled "Enter source of other earned income" - select "Other"
Input the "1042-S wages" and the amount on the next screen
Then you need to claim tax exemption of this income according to "China-US tax treaty, exemption under article 20(b)" since it's scholarship income, as following:
Click on the "Federal Taxes" tab
Next click on "Wages and Income"
Next click on "jump to full list"
Scroll down the screen until to come to the section "Less Common Income"
Choose "show more", then Miscellaneous Income
Choose "Other Reportable Income" and enter this information here under other taxable income
You should use a description related to the tax treaty article exempting the income (ie: China-US tax treaty, exemption under article 20(b)) and the exempt amount as a negative number as shown on your 1042-S.
Also, don't forget to file 8833 form if you claim tax exemption. And double check with your university to see if you should receive 1098-T.
However, doing above steps won't change any amount for your tax return. Hope it helps. Good luck.
Click on the "Federal Taxes" tab
Next click on "Wages and Income"
Next click on "jump to full list"
Scroll down the screen until to come to the section "Less Common Income"
Choose "show more", then Miscellaneous Income
Choose "Other Income not already reported on a Form W-2 or Form 1099"
Select - "Yes" for "Other Wages Received"
After 3 screens, select "Yes" for "Any other earned income".
On screen titled "Enter source of other earned income" - select "Other"
Input the "1042-S wages" and the amount on the next screen
Then you need to claim tax exemption of this income according to "China-US tax treaty, exemption under article 20(b)" since it's scholarship income, as following:
Click on the "Federal Taxes" tab
Next click on "Wages and Income"
Next click on "jump to full list"
Scroll down the screen until to come to the section "Less Common Income"
Choose "show more", then Miscellaneous Income
Choose "Other Reportable Income" and enter this information here under other taxable income
You should use a description related to the tax treaty article exempting the income (ie: China-US tax treaty, exemption under article 20(b)) and the exempt amount as a negative number as shown on your 1042-S.
Also, don't forget to file 8833 form if you claim tax exemption. And double check with your university to see if you should receive 1098-T.
However, doing above steps won't change any amount for your tax return. Hope it helps. Good luck.
‎June 4, 2019
4:08 PM
8,937 Views