1042-S Confusion - How to enter in tax return?

Hello,

I am a US citizen and I married my wife last year, who is working as a postdoc. She received a 1042-S from her previous employer, and I do not know how to enter this information in TurboTax. We are filing together.

Her income code is 16 and exemption code 3a is 00 and exemption code 4a is 16 if that means anything. I searched for answers here but there a variety of answers that are all different. Can someone please explain to me how to properly file a joint return with this 1042-S information?

Thank you!

11435

1 Best answer

Expert Alumni

Mar 22, 2020 2:56:56 PM

Here is the best way to enter this information: For the income, perform these steps:

Click Federal > Wages & Income>all income>
Go to the last selection, Miscellaneous Income and click Start
Go to the last option, Other reportable income and click Start
When it asks, "Any other reportable income?" say yes and then type in a description and the amount to report it on your tax return. For the income description, record it as 1042 S fellowship income and then the amount.

To get credit for the taxes withheld;

Go to Federal>deductions and credits>estimates and other taxes paid
Go Other income Taxes>scroll to the bottom of the page
Go to other income taxes paid>withholding not already on a W2 or 1099

Expert Alumni

Mar 22, 2020 12:08:39 PM

You will treat it as receiving a scholarship or fellowship to offset her qualified education expenses if there are any. Per IRS, you are required to file a Form 1040 to report your scholarship amount along with your tuition. If you have paid any qualified tuition expenses out of pocket or with scholarship, you would enter information by following the steps below.

Open up your program
At the right upper corner, in the search box, type in "1098t" and EnterSelect Jump to 1098t
On the screen, Now Let's gather XYZ's Additional Education Expenses
Follow prompts
Next screen, Your Education Expenses Summary, select Edit
Next screen Here's Your Education Summary, under Tuition, select Edit to enter tuition information

Level 2

Mar 22, 2020 1:01:33 PM

Thanks for replying. But my wife was not a student. She earned income and had tax withheld. Where would I enter that information in TurboTax (the withheld taxes and income)? And what would I put for tuition? Would it be 0 since she wasn't a student? Thanks!

Expert Alumni

Mar 22, 2020 2:56:56 PM

Here is the best way to enter this information: For the income, perform these steps:

Click Federal > Wages & Income>all income>
Go to the last selection, Miscellaneous Income and click Start
Go to the last option, Other reportable income and click Start
When it asks, "Any other reportable income?" say yes and then type in a description and the amount to report it on your tax return. For the income description, record it as 1042 S fellowship income and then the amount.

To get credit for the taxes withheld;

Go to Federal>deductions and credits>estimates and other taxes paid
Go Other income Taxes>scroll to the bottom of the page
Go to other income taxes paid>withholding not already on a W2 or 1099

Level 2

Mar 26, 2020 10:34:16 PM

I forgot to ask, are we still allowed to E-file our federal tax return since we have a 1042-S? Or are we required to paper mail our federal tax return with a copy of the 1042-S my spouse received from her university?

I can't seem to find a way to add the 1042-S as an attachment to TurboTax, and I thought I read somewhere that we have to include the 1042-S in our filing.

Thanks!

Expert Alumni

Mar 27, 2020 1:58:50 PM

Form 1042S does not need to filed with your income tax return.

TurboTax does not include Form 1042S.

Fill out Form 1042 and then mail it to the address specified in the form instructions.

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1042-S Confusion - How to enter in tax return?