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Generating a 1042 and 1042s form

I have an LLC, which is a partnership company between me (US Citizen) and one other person (Foreign citizen, non-US Person, non-US resident) and we split all profit 50%/50%. I used TurboTax business to generate Schedule K-1 for each of us. However, it is my understanding that I also need to provide my partner with a 1042S and file a 1042 with the US Government. I created an account with the https://1042sdi.for.irs.gov/ website, and I read Publication 515 (which I found VERY long and confusing.)

 

Because I need to generate K-1s, I purchased and used TurboTax Business CD Download for Windows. It asked the question about whether I need to submit 1042s. I clicked Yes and it ticked that box on my 1065. However, it didn't ask me any questions that would help me create the 1042 or the 1042s. And it didn't generate them.

 

I can't figure out a way to get TurboTax Business CD Download for Windows to assist me in the creation of these 2 forms. And I'm super confused about which Income Code and Chapter 2 Status Code and Exemption Code I should use. 

 

Is there a way that I can use a TurboTax product (one that I already have or another one that I can purchase) to help create these forms? 

 

BTW - when I search the community for 1042 forms, I find a lot of people who want to submit them, and none who want to create them. I understand that TurboTax for individuals may not help non-US people with the submission of their 1042s form. That's not what I'm trying to do.

 

Any advice is appreciated. Also, any advice on ways to contact TurboTax Support in a way that would help explain to them what I'm trying to do would be appreciated. I'm not having much luck on the phone with this.

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3 Replies

Generating a 1042 and 1042s form

The only way to contact Support in your situation would be via telephone.

 

See What is the TurboTax phone number? (intuit.com)

 

Since the program (TurboTax Business) does not support Form 1042-S, I am not sure Support can do anything to assist you, however.

 

If you are hopelessly lost, you should really consider contacting a local tax professional.

Generating a 1042 and 1042s form

Thanks. I wouldn't say I'm hopelessly lost. I've just gotten used to the way TurboTax works. I really like how it asks me questions and guides me through the forms I need to fill out. Form 1042 is really complicated, and Publication 515 doesn't make it much clearer. I would expect that a computer-based program could make it easier to fill that form out. And I had assumed incorrectly when I purchased and downloaded TurboTax Business that it would help me with those forms. I was really hoping to avoid having to deal with a tax advice company in person but that appears to be my next step.

 

 

Generating a 1042 and 1042s form

The form is due March 15th, but you can file an extension (Form 7004) if you need more time to file.

 

Unfortunately, it appears as if a consultation with a local tax professional in this case is inevitable.

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