How to enter form 1042-S, income code 27, gross income, chapter 3, 3a exemption 00, 4a exemption 15. with tax withheld, and tax credit amount (US Citizen)?

Forum|Forum|7 years ago
June 1, 2019
2 replies
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TurboTax Premier Windows

Leonard11_2

Level 10

You do not report Form 1042-S in TurboTax. Form 1042-S is not supported by TurboTax. Form 1042-S does not have to be filed with your tax return you will mail your Form 1042-S to the address specified in the form instructions.

null725Author

Level 13

Thank you Leonard.

USCANTAX

Level 2

This means that you have invested in a US limited partnership through a foreign person who received form 1042-S, or you erroneously signed form W-8 certifying that you are a foreign person. If the former you probably have to file either form 5471, 8865, 8858 for the foreign person who received the form reporting the income withintheentity. If the latter, please contact the issuer and provide them your W-9, which will give you a K-1 to report the partnership income on Sch E of your 1040.