1042-S

Forum|Forum|4 years ago
February 9, 2022
6 replies
35 views

I have a client who won money from gambling, and recived a 1042-S because he identified himself with his foreign passport. How do I go about entering the 1042-S into his 1040 since its not supported by the program? Do I have to just finish his 1040 and send the 1042-S forms' with it to the IRS, or is there a way to enter it into the program?

ProSeries Professional

This topic has been closed for replies.

Best answer by Camp1040

1099-MISC

Box 4: Federal income tax withheld.

sjrcpa

Level 15

You could try entering it as 1099 withholding and attaching the 1042-S as a pdf.

I expect correspondence will ensue.

Is it enough withholding to worry about?

The more I know the more I don’t know.

L

LaraMultiservicesAuthor

Level 3

There is $382 of withholding. How would I enter the form as a 1099-Nec, or 1099 Misc?

Camp1040Answer

Level 10

1099-MISC

Box 4: Federal income tax withheld.

Camp1040

Level 10

I would enter it as other income line 8. Use the other income statement and report the amount on Line 2c.

Camp1040

Level 10

I would go with @sjrcpa answer, especially if their is withholding. I assumed no withholding since it wasn't mentioned.....so true what is said about assuming!

sjrcpa

Level 15

If there is no withholding, just report it as gambling winnings and don't worry about the 1042-S.

@Camp1040 I made an assumption, too.

The more I know the more I don’t know.

Sign up

Login with SSO

Let's get you signed in

Login with SSO