Even though my tax status "Resident Alien" for the calendar year 2024, I received four 1042-S with the income codes 29 and 06, two of each. Going through the forum posts, it seems like I can report the forms with income code 29 under 1099-INT and 06 under 1099-DIV.
I couldn't find exactly which fields to use in the 1099 forms.
For 1042-S forms with income code 06, I
- entered the gross income (box 2) from 1042-S in box 1a of 1099-DIV.
- entered the total withholding credit (box 10) from 1042-S into box 4 of 1099-DIV.
For 1042-S forms with income code 29, I
- entered the gross income (box 2) from 1042-S in box 1 of 1099-DIV and ignored rest of the boxes.
Details of my 1042-S forms:
- All of my 1042-S forms have a positive gross income in box 2.
- Both of my 1042-S forms with income code 06 have tax withheld (box 7a = box 10)
- Neither of my 1042-S forms with income code 29 have any tax withheld. Boxes 5--11 are all $0.
It would be very helpful if someone could confirm this is the right way to enter the 1042-S forms. Thank you!
