Hey, I have received a form 1042-S from my bank listing an interest amount for my saving account, should I submit this form in my tax return, if so where should I do?

[bine22]

what is your visa and since when are you in the US?

[bine22 · Accepted solution]

On F1 you are a nonresident alien for the first 5 calendar years. AS a nonresident alien you would file form 1040NR or 1040NR-EZ plus form 8843 plus a state return, if applicable. Turbotax does not support these forms.

Have a look at publication 519 https://www.irs.gov/forms-pubs/about-publication-519

As a nonresident alien student, interest from savings is not taxable to you https://www.irs.gov/individuals/international-taxpayers/aliens-which-income-to-report

The exemption code on the 1042s should reflect that.

[ah-jimmy]

So I should not file 1099-INT? this is the form that I have received from my bank 1042-S and it contains only $13!

[bine22]

No. You cannot use Turbotax for your return at all. Form 1040NR as explicit fields for 1042s forms.

[ah-jimmy]

Oh!! I am confused, I have w-2 forms and I paid federal and state taxes but I need to file special forms and cannot use TurboTax at all because I am on F1 visa. did I get you right?

[bine22]

As a nonresident alien on F1 you need to file form 1040NR or 1040NR-EZ plus form 8843 (and possibly a state return). These are NOT supported by Turbotax.

[ah-jimmy]

Thank you!

[ah-jimmy]

So what do you recommend, I do not know how to file them. Any idea who can help me do it?

[DS30]

Here is the website link: <a rel="nofollow" target="_blank" href="https://www.sprintax.com/">https://www.sprintax.com/</a> They prepare returns for international students with class F-1 visas.

[ah-jimmy]

Thank you!

[bine22]

Some universities provide access to tax filing software for their international students.  Ask the university first.

[ah-jimmy]

I already did and they do not provide tax service!

[ah-jimmy]

I really appreciate your help 🙂

[DS30]

Please refer to answer by Bine22.

[edited 2/16/2018 - 2:40PM PST]