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Level 1
posted Apr 3, 2024 1:23:50 PM

How to report dividends from Form 1042-S?

My broker account gave me a 1099-DIV as well as 1042-S. I was able to add 1099-DIV in Turbotax (Deluxe) but unable to find how to add 1042-S. I am filing for the first time as resident and had filed for 2022 as Non-resident.

0 1 841
1 Replies
Expert Alumni
Apr 3, 2024 1:47:57 PM

For a resident you can enter your Form 1042-S as follows:

 

Other Miscellaneous Income:

 

  1. Go to the Wages and Income  section of TurboTax
  2. Scroll to  Less Common Income > Select  Miscellaneous Income, 1099-A, 1099-C
  3. Select Other reportable Income > Enter a description (----) and the amount

If you have any federal withholding on your form use the instructions below:

  1. Go to Deductions and Credits
  2. Scroll to Estimates and Other Taxes Paid > Select Other Income Taxes
  3. Select Other income Taxes paid in 2023 > Withholding not already entered on a W2 or 1099.