If I have a W2 and a 1042-s code 20 for the same i...
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If I have a W2 and a 1042-s code 20 for the same income, how do I file that in Turbo Tax Deluxe?

 
4 Replies
Level 12

If I have a W2 and a 1042-s code 20 for the same income, how do I file that in Turbo Tax Deluxe?

First, make sure these forms are not reporting different income. Make sure the 1042-s is not reporting scholarship or housing allowance. 

Make sure the other information is also included on both forms, such as the withholding.

If it is reporting the same income, only one form should have been issued, the W-2 OR the 1042-S. 

IF YOU ARE SURE BOTH FORMS REPORT THE SAME TAX INFORMATION 

  1. You could ask payroll to make the proper corrections.
  2. You could report the W-2 and keep the 1042-S with your tax file in case the IRS inquire about it.
  3. You could enter the W-2 and then the 1042-S as "Other Income" followed by an adjustment. 

For option #3 do this:

Enter the W-2

Next, enter the 1042-S like this:

 

Click Federal

Click Wages and Income

Scroll to the bottom and click Show more under “Less Common Income”

(you may need to answer Yes/No questions and/or click “All income” first)

Scroll to the bottom “Miscellaneous Income, 1099-A, 1099-C" and click Start

Scroll to the last choice “Other reportable income” and click Start

Enter    “1042-S reported on W-2"   as the description and the amount and Continue

Click Done on the next page

Finally enter the adjustment:

Click Federal

Click Wages and Income

Scroll to the bottom and click Show more under “Less Common Income”

Scroll to the bottom “Miscellaneous Income, 1099-A, 1099-C" and click Start

Scroll to the last choice “Other reportable income” and click Start

Enter    “to zero out 1042-S also on W-2 "   as the description and the amount AS A NEGATIVE NUMBER and Continue

Click Done on the next page

This puts the income and the adjustment on Schedule 1 line 8 and flows to your 1040 line 7a

 

 

 

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Level 3

If I have a W2 and a 1042-s code 20 for the same income, how do I file that in Turbo Tax Deluxe?

Hello,

 

I found out that if I get box 7 and 10 are 0, I don't have to report.

(https://ttlc.intuit.com/community/retirement/discussion/turbotax-does-not-directly-support-the-filin...)

 

Is it correct??

Level 15

If I have a W2 and a 1042-s code 20 for the same income, how do I file that in Turbo Tax Deluxe?


@Scott777 wrote:

Hello,

 

I found out that if I get box 7 and 10 are 0, I don't have to report.

(https://ttlc.intuit.com/community/retirement/discussion/turbotax-does-not-directly-support-the-filin...)

 

Is it correct??


The above is for when the taxpayer received two different forms for the same income.  In your other question you responded to, you indicated your alien status might have changed.  Please keep your questions in one place. 

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
Level 3

If I have a W2 and a 1042-s code 20 for the same income, how do I file that in Turbo Tax Deluxe?

I did that because no one answered my questions. Yes you are correct but at the link that I posted the person did not mention that the two different forms for the same income.

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