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Retirement tax questions
"Form 1042-S is used to report amounts paid to foreign persons that are subject to income tax withholding, even if no amount is deducted and withheld from the payment because of a treaty or exception to taxation, or if any amount withheld was repaid to the payee. It is also used to report amounts withheld under Chapter 3 of the Internal Revenue Code.Sometimes, this form is mailed out strictly for informational purposes and therefore does not need to be included on your return. This is often the case when Resident Aliens receive this form.
Your Income code 16 relates to Scholarship or Fellowship Grants.
The significant items on the 1042-S form are Box 7 and Box 10. Box 7 is US Federal Tax Withheld and Box 10 is Withholding Credit."
TurboTax does not support this form. However, you can report the taxes withheld in boxes 7 and 10 as follows:
1. Go to Federal.
2. Select Deductions and Credits.
3. Choose Other Income Taxes.
4. Select Other Income Taxes Paid in 2017.
5. Choose Withholding Not Already entered on W-2 or 1099.
Add these two boxes and enter them under Federal Taxes.