Tax Filing 1042-S 2022 & 2023

[tisyaalmira]

Hello,

I am a non-resident alien who moved to the US in 2021-2023 for school and work.

I filed my income taxes on time for 2022 and 2023 using my W-2 form with TurboTax. However, I did not file Form 1042-S for these years. I received these forms for my US stock investments.

The 1042-S shows a very small amount withheld in Box 7 and Box 10 ($1.00) for dividends from my stocks.

My questions are:

1. Do I need to amend my 2022 and 2023 income tax filings?

2. Are these filings considered late now? I read that it will cost me $310 per form for the penalty. However, considering it is only $1.00 tax withheld, is it possible for it to cost less?

3. Can I file them using TurboTax Basic, or do I need to upgrade?

4. As for 2024, I sold all my stocks and crypto in 2024, will I receive Form 1042-S as well or Form 1040-NR for this? and can I file it at the same time with the 2022 and 2023?

[pk]

@tisyaalmira , 

Namaste Tishya ji.

First, if you are a Non-Resident Alien ( NRA ) you cannot file your return on form 1040 -- it must be 1040-NR  ( not supported by TurboTax --- use  SprinTax, Tax Professional or TaxHelp at your school )

Second,  your getting W-2  implies you had permission from ICE to work --EAD or how did you get SSN.

Three -- what do you mean  " study and work" -- student visas are  usually for studying only except  during off hours  and very specifically regulated.

If you are uncomfortable  answering here , you can PM me and I will do my best to get you compliant

Namaste ji

pk