2575059
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I am a resident for tax purposes and I got form 1042s (code 16). How do I include this in my filing?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
DMarkM1
Expert Alumni

I am a resident for tax purposes and I got form 1042s (code 16). How do I include this in my filing?

Since you are a US resident for tax purposes, by receiving a Form 1042- S with the code 16, you will treat it as receiving a scholarship or fellowship to offset your qualified education expenses if there are any.  

 

  • At the right upper corner, in the search box, type in "1098t" and "Enter"
  • Select Jump to 1098t in the top of the results box

 

When you enter your form 1098-T for education expenses you will be asked about other scholarships/grants not reported on your 1098-T. There you can enter your 1042 amount.  You also be asked about the education expenses paid with the scholarship/grant or out of pocket.

 

Further, if your form 1042 shows withholding you can enter that under the "Deductions & Credits" tab.

  1. Scroll down to Estimates and Other Taxes Paid
  2. Click on Other Income Taxes

 Here is an excellent link with a previous answer from @KarenJ2

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question