Yes, it means there is $49 worth of income that should be reported. Here is how to report.
- Open your return in TurboTax
- Click on Wages & Income
- Scroll down to All Income
- Scroll down to Less Common Income
- Scroll down to Miscellaneous Income, 1099-A, 1099-C
- Click start
- Scroll down to Other reportable income
- Answer yes
- Enter description and amount Here you will simply put 1042-S as a description and $49 as the amount.
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