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    devakash's Avatar
    devakash Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Mar 19, 2012, 04:28 PM
    Net income on W2 and 1042-S not matching
    Hello,
    I'm on H1 B visa for last six years and have been filing taxes as resident. My wife came on H4 in 2010 and converted to F1 visa in 2011. She is working on OPT now. Her employer sent W2 and 1042-S forms. The net income is not matching on W2 and 1042-S. is it something unusual?
    1. Can I file as "married filing jointly" this year?
    2. Can I claim the american opportunity credit or life time learning credit?
    3. which form do I use to file taxes? W2 or 1042-S

    Please advise

    Thanks
    Dev
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 20, 2012, 07:55 AM
    1) Yes.

    2) Yes.

    3) Both.

    Often, certain payments, such as health insurance or 401K payments, affect the taxable wage amount in Box #1 of the Form W-2.

    If you want my professional help, double-click on my title above and scroll down to my profile/signature. You will find my email address and websites there.
    devakash's Avatar
    devakash Posts: 3, Reputation: 1
    New Member
    		  
    #3

    Mar 20, 2012, 08:56 AM
    Thank You Atlanta tax expert for your hel pand response.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Mar 20, 2012, 10:26 AM
    Glad to help!
    devakash's Avatar
    devakash Posts: 3, Reputation: 1
    New Member
    		  
    #5

    Mar 20, 2012, 10:32 AM
    Hello Atlanta Tax Expert,
    I have one more question.. I understand these are busy months for you but I would really appreciate your response. My local tax preparer is saying, he will file 1040EZ only with W2 and 1042-S is not required. Is that correct way of doing it?

    I'm not sure if he has enough expertise on this and I have already made his tax preparation payment. Are there any reference I must let him know in case he is wrong?

    Thanks
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #6

    Mar 20, 2012, 11:14 AM
    On joint return both must report their worldwide income for the year that is you must add W-2 as well 1042-S income.
    Why should W-2 income and 1042-S income match?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #7

    Mar 20, 2012, 11:17 AM
    I REALLY cannot comment about the Form 1042-S without looking at the Form 1042-S in question.

    If you look up my email address in my profile. you can scan-and-email the Form 1042-S, then I will be able to respond to you via the email.
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