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Level 1
June 7, 2019
Solved

Resident alien with 1042-S form (income code 16)

I am a resident alien and received 1042-S form (income code 16) for fellowship from my university. 

Should I add fellowship tax that I paid on [Other Income Taxes -- Federal Withholdings] and add fellowship income on [Scholarships/Grants], and file electronically? 

Then, should I file 1042-S on paper separately? 

PopeyeTheSalior
Level 13
June 7, 2019

If you are a US resident, 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.  Per IRS, you are required to file a Form 1040 to report your scholarship amount along with your tuition.  If you have paid any qualified tuition expenses out of pocket or with scholarship, you would enter information by following the steps below.  As IRS receives a copy of your Form 1042-S, you can e-file your tax return.  You do not need to submit your Form 1042-S separately.

 

In TurboTax online edition, 

 

  • Sign in to your account, select Pick up where you left off
  • At the right upper corner, in the search box, type in "1098t" and Enter
  • Select Jump to 1098t
  • On the screen, Now Let's gather XYZ's Additional Education Expenses
  • Follow prompts
  • Next screen, Your Education Expenses Summary, select Edit
  • Next screen Here's Your Education Summary, under Tuition, select Edit to enter tuition information
  • See the images below.

 

If you have paid in any tax withholdings, to enter the info, follow these steps:

 

1.  Sign back into the program and select Pick up where you left off 

2.  At the right upper corner, in the search box, type in estimates paid and Enter

3.  Select Jump to estimates paid

4. On the screen, Estimates and Other Income Taxes Paid, select the right section to enter information  

8 replies

PopeyeTheSalior
Level 13
June 7, 2019

If you are a US resident, 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.  Per IRS, you are required to file a Form 1040 to report your scholarship amount along with your tuition.  If you have paid any qualified tuition expenses out of pocket or with scholarship, you would enter information by following the steps below.  As IRS receives a copy of your Form 1042-S, you can e-file your tax return.  You do not need to submit your Form 1042-S separately.

 

In TurboTax online edition, 

 

  • Sign in to your account, select Pick up where you left off
  • At the right upper corner, in the search box, type in "1098t" and Enter
  • Select Jump to 1098t
  • On the screen, Now Let's gather XYZ's Additional Education Expenses
  • Follow prompts
  • Next screen, Your Education Expenses Summary, select Edit
  • Next screen Here's Your Education Summary, under Tuition, select Edit to enter tuition information
  • See the images below.

 

If you have paid in any tax withholdings, to enter the info, follow these steps:

 

1.  Sign back into the program and select Pick up where you left off 

2.  At the right upper corner, in the search box, type in estimates paid and Enter

3.  Select Jump to estimates paid

4. On the screen, Estimates and Other Income Taxes Paid, select the right section to enter information  

Level 2
June 7, 2019
Can we still e-file for year 2018 if we received a 1042s? or do we need to file on paper?