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Level 1
posted Mar 19, 2024 9:02:33 PM

How Could I File Form 1042-S with Income code 29, Chapter 03 in Box3 in Turbotax?

Hi,  I (green card holder) am joint filing with my wife (US citizen). I received the Form 1042-S from the international organization credit union.

 

The Income code (Box1) is 29; Box2 is $11.53; Box 3 is "03", 3a Exemption code: 02 & 4a Exemption code: 15. Both 3b & 4b is 00.00; Box 7a "Federal tax withheld" is $0.00.

 

How could I file this form into my tax return? I do not see form 1042-S in turbo tax. There are some article mentioning that I should file in the form 1099-INT. Is this correct? Do I simply input Box2 number in Box1 of the form 1099-INT, and disregard the rest of the boxes? 

 

Thank you for your help in advance.

 

0 2 3965
2 Replies
Expert Alumni
Mar 20, 2024 5:01:20 AM

Yes, this is correct. You may file this like a 1099-INT, report the interest in Box 1 of the 1099-INT, and disregard the other boxes listed on the 1042-S.

Level 1
Mar 20, 2024 6:28:35 AM

Thank you very much!