Ask Experts Questions for FREE Help !
Ask
    kwiatass's Avatar
    kwiatass Posts: 7, Reputation: 1
    New Member
    		  
    #1

    Mar 13, 2012, 08:09 PM
    1042-s form in turbotax or HRBlock
    I'm on OPT currently and I've received 1042-S with Income Code 15. Not sure how I can apply that amount online to my return. Thanks!
    kwiatass's Avatar
    kwiatass Posts: 7, Reputation: 1
    New Member
    		  
    #2

    Mar 13, 2012, 08:25 PM
    And also I'm a resident alien. I found on two other posts that it can be posted as another w-2 form or I can just disregard it. Please let me know what I should do. Thanks!
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    Mar 13, 2012, 08:37 PM
    Income code 15 is Scholarship and grant.
    If you are a degree candidate and if the financial aid (includes scholarship and fellowship) is for tuition fee, other fees, books, supplies and equipment, then it is not taxable. For a degree candidate aid for boarding and travel are taxable.
    If you are not a degree candidate, then all the financial aid is taxable Read scholarship and fellowship grants, Your U.S. Tax Return: The U.S. Income Tax Topics 1
    jason8704's Avatar
    jason8704 Posts: 7, Reputation: 1
    New Member
    		  
    #4

    Mar 16, 2012, 07:47 AM
    I understand. I was a degree candidate for about 5 months and then graduated in May. With that said I have about 6K in gross income and approx. 800 in federal taxes withheld and Im not sure how I can submit it online on hrblock or turbotax. Can I submit it as another w-2 form?
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

I got a 1042-S form but am a resident alien [ 14 Answers ]

I did some contracting work for a company which mistakenly processed me as a non-resident Aliean and sent me a 1042 S form. I am actually a resident alien. If they can't fix this before the Filing deadline, what should I do ? Should I just attach the 1042-S form to my resident tax return ?

1042-S form and H4 Visa holder [ 5 Answers ]

I got 1042-S from my university. They treated my scholarship/grant excess to tuition fees as income. Hence Box 2 shows $5568 and at 14%, Box 7 shows 780 Tax. I know that I need to complete a Federal tax return in order to apply for the refund of the taxes that were withheld from the...

I received both 1042-S and W-2 form [ 2 Answers ]

I have been used F1 for 7 years, and then transferred to H1-b for academic for 4 years. I filed my tax with 1040 form since 2000. My H1-b was changed from academic to industry last year on October and I don't have working permission in states from Jan to Sep in 2008. I went back to my country...

Form 1040nr with TurboTax [ 1 Answers ]

Does TurboTax support filing with the 1040NR form?

Which form to use - 1040 or 1040NR? CAn TurboTax be used? [ 1 Answers ]

I came to US in Feb, 2005 on L1-B visa and finally left in Oct, 2006. In between these dates I went back to India a number of on vacation. My employer issued me a W2 for year 2005 and arranged a tax preparer to file the return. During that time the tax preparer had filed my return as Dual Status...

View more questions Search