I am an American living overseas and emptied out my 401k in 2024. I received form 1042-S, income code 15. How should I enter the info in turbotax?

[olive917]

I no longer have a US adress, which is why I received this tax form instead of a 1099-R. I also took the money out early, so I should have an additional penalty.

[DaveF1006]

To remove this from your return: 

1. Federal or Federal Taxes if working in the desktop version
2. Income or Wages and Salaries if working in the Desktop Version
3. Other Tax Situations
4. Prepare a Report on Foreign Assets
5. Answer None of the above to Tell Us About Any Foreign Bank Accounts.
6. Click Continue.
7. Answer None of the above to Tell Us About Any Foreign Trusts.
8. Click Continue.
9. Answer No, I don’t have foreign financial assets to Foreign Financial Assets.
10. Click Continue Sign out of your return after you do this.

If this doesn't remove the entry, try this: 

In Turbo Tax Online: 

• Tax tools
• Tools
• Delete a Form
• Look for Form 8938 and delete it and all of the worksheets associated with it

In Turbo Tax Software 

• Go to the forms mode in your program
• Look for form 8938 and all worksheets associated with.  
• Delete the form and the worksheets Sign out of your return after this is done.