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
- You could ask payroll to make the proper corrections.
- You could report the W-2 and keep the 1042-S with your tax file in case the IRS inquire about it.
- 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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