RogerD1
Employee Tax Expert

Deductions & credits

Yes, you should still report the income on your tax return.  This also would not be considered a rollover if the issuer of the 1042-S distributed the funds to your checking account.

 

If you are a US citizen, the issuer should have issued you a 1099-R instead of a 1042-S.  You may want to contact them to see if they could correct their error and send you the correct form for that income.

 

I realize that this is a lot of work for a small amount of income, however, since this income has been reported to the IRS, it is in your best interest to report it on your tax return.

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