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New Member
posted Mar 11, 2022 9:56:13 PM

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

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1 Replies
Expert Alumni
Mar 13, 2022 6:32:29 AM

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