- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
@Propeller2127 , you need to contact your financial institutions ( those that sent you the 1042-S) and update them on your being no longer NRA but a resident ( for tax purposes ?).
If you look at the 1042-S form at IRS -- > 2025 Form 1042-S you will see the income codes and the explanatory codes called out.
Per the above
(a) income code 6 ( in Box 1 of 1042-S) is dividend issued by US corps.. Thus these incomes need to be entered as dividend income -- form 1099-Div . You can use dummy forms to enter this data .Essentially this lines up with your post.
(b) income code 29 ( in Box 1 of 1042-S) is deposit interest ( probably from a financial institutions like a bank or monies held for investment at a broker ). You need to enter these amounts as interest earned. The non-withholding probably means the amounts were of a minimal nature ( under $10 ? ). This does not line up with your post. You do not have to use dummy 1099-INT -- TurboTax allows you to enter interest income with just name of issuer and the amount.
Is there more I can do for you ?
pk