I have a 1042-s for a tax client. what do I do with this? does it go on the 1040 somewhere/

Forum|Forum|6 years ago
December 6, 2019
3 replies
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do I add the income and withholding to the w-2 that was issued and from which the amount was deducted?

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Best answer by itonewbie

1042-S is issued to taxpayers who are subject to foreign persons and taxpayers who are subject to backup withholdings because there is no W-9 on file. How you report the income and withholdings is no different from how you'd handle W-2 or other 1099's but you will need to refer to the 2-digit code in Box 1 for the type of income. In the event it is a recurring payment and the recipient is a US person (i.e. resident alien or US citizen/national), he or she should contact the payor asap to ensure a W-8BEN or W-9 is on file.

itonewbieAnswer

Level 15

1042-S is issued to taxpayers who are subject to foreign persons and taxpayers who are subject to backup withholdings because there is no W-9 on file. How you report the income and withholdings is no different from how you'd handle W-2 or other 1099's but you will need to refer to the 2-digit code in Box 1 for the type of income. In the event it is a recurring payment and the recipient is a US person (i.e. resident alien or US citizen/national), he or she should contact the payor asap to ensure a W-8BEN or W-9 is on file.

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