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I have received a 1042-S code 01 from Internal Revenue Service. Where do I enter it on turbotax?

 
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JamesG1
Expert Alumni

I have received a 1042-S code 01 from Internal Revenue Service. Where do I enter it on turbotax?

Box 1 code 01 reported on an IRS form 1042-S is interest paid.

 

See Instructions for form 1042-S, page 37, here.

 

On an IRS form 1040 income tax return,  report as interest income reported on IRS form 1099-INT.

 

  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Wages & Income.
  • You may need to click Add more income.
  • Scroll down to Investments and Savings and click on the dropdown menu.
  • Click Start to the right of Interest on 1099-INT.

 

 

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