Form 1042-S -A Couple of Questions

[Ardi]

Hi,

I recently received a Form 1042-S with: Income Code: 17 (Box 1), Exception Code: 16 (Box 4a) and Tax Rate: 30% (Box 3b). The federal government withheld 30%. 

I have two questions: 

Question #1. I’m wondering if you’d recommend filing this form with TurboTax. Have you heard of other TurboTax users who have successfully done this? I don’t want to raise any red flags with the IRS by declaring it in using Turbo Tax, as some prior forums have suggested. Based on your experience, what would you recommend it's best?

Question #2. If you think it’s okay to file this form with TurboTax, can you confirm that Step 1 & Step 2 below are the correct approach?

Step 1. Go to Wages & Income, scroll down to  “Miscellaneous Income, 1099-A, 1099-C -> and scroll down to "Other reportable income” -> and manually add a description (Form 1042S) and gross income (box 2).

Step 2. Go to "Deductions & Credits," go to "Estimates and Other Taxes Paid" -> Income  Taxes Paid -> Other Income Taxes Paid in 2024->Withholding not already entered on a W-2 or 1099" -> and add the amount on Federal Withholdings. 

Thank you so much, 

[RobertB4444]

If you are a US citizen or resident then you can file using TurboTax and you have outlined the exact steps to do so.  Well done.

If you are not a US citizen or resident then you would be better off using Sprintax, TurboTax's foreign tax partner.

Here is a link to Sprintax.

@Ardi 

[Ardi]

Thank you. Just a clarification. You meant resident for tax purposes, right? 

[DawnC]

Yes, resident aliens can use TurboTax but nonresident aliens cannot.    See Tax Topic 851