I am resident alien for tax purposes. I got both 1042-S and 1098-T.
1098-T states:
Box 1: 22038
Box 5: 37658
Box for graduate student and atleast half-time student are checked.
1042-S states:
Chapter: 3, Income Code: 16, Exemption Code: 16, Tax Rate: 14
Gross Income 14342
Federal Taxes Withheld: 2008
I imported the 1098-T into Turbotax and the fields got populated.
I entered taxes withheld in the appropriate section also.
What to do with the Gross Income figure of 14342 from 1042-S form?
Please help me to enable timely filing of the return.
Scholarship/ Fellowship income in excess of tuition and required fees is taxable. To verify your taxable portion, see Tax Topic 421 taxation and reporting of scholarships, fellowships and other grants.
You will enter the tax withheld:
You will enter the 1098-T from college and add in your 1042-S scholarship income.