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jyoo1042
Returning Member

1042-S Form as Resident Alien

Hi, I am F1 student (more than 5 years) from South Korea and have filed as resident alien for 2019 and 2020. After filing for 2020 and paying the tax, I have received 1042-S form from my school this week. 

 

The income code is 16 with gross income $16161.
3a exemption code is 04 and 4a exemption code is 15.

with all tax rate 0.

From reading other posts on this website regarding the 1042-S form and tax treaty as resident alien, it seems the scholarship amount that I have reported on my tax filing of could have been exempted.

Since I have already completed the filing and made the payment, I was wondering if there was way to amend this. 
If so, how would I amend this?

Thanks

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1 Reply

1042-S Form as Resident Alien

No you are not required to amend your tax return. 

 

TurboTax does not include Form 1042-S.  Form 1042-S does not need to filed with your income tax return.

 

Sometimes, this form is mailed out strictly for informational purposes and therefore does not need to be included on your return. This is often the case when Resident Aliens receive this form. 

 

The significant items  on the 1042-S form are Box 7 and Box 10Box 7 is US Federal Tax Withheld and Box 10 is Withholding Credit. If both of those boxes are 0, then nothing was withheld and there is no withholding credit and the 1042-S form is just for your informational purposes. 

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