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- Received a 1042-S from bank for opening a new bank account. How do I process this document?
Received a 1042-S from bank for opening a new bank account. How do I process this document?
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JDMA
Level 1
yesterday
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My client is a legal U.S resident and, in 2024, she received $50 bonus for opening a new bank account. Last month, the bank issued a 1042-S. I am confused on what I am supposed to do with this form since she is considered a resident for tax purposes.
How should I report this income using ProConnect?
Thank You
