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We did a 32106 withdrawal From our IRA while living overseas. The bank gave us a 1042-S for taxes. Where is this input in TurboTax
I don’t know where to enter this in turbos tax
They gave us a 1042-s and not a 1099. Is this correct?
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We did a 32106 withdrawal From our IRA while living overseas. The bank gave us a 1042-S for taxes. Where is this input in TurboTax
@pk ?
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We did a 32106 withdrawal From our IRA while living overseas. The bank gave us a 1042-S for taxes. Where is this input in TurboTax
@carin_hyden , from your post I assuming that you and your spouse (? because you said "we" ) together withdrew ( from whose account? ) a large sum from IRA ( who is the owner ? ) and the admin issued a 1042-S ( implying that the issuer considers you / spouse a Nonresident Alien.
(a) you cannot enter this in TurboTax because TurboTax does not support 1040-NR that anon-resident alien must file , instead of 1040 for US persons ) citizen/GreenCard/ Resident for tax purposes ).
)b) which country are you now a resident of ? ( this may have treaty considerations)
(c) are you US persons ( citizen/ GreenCard/ Resident for Tax purposes )?
(d) if you are US person(s) living abroad, then the 1042-S is wrong -- they should have issued 1098-R ( showing the SSN of the owner
Please clarify ( based on the questions I have articulated or implied ) and I will circle back once I hear from you .
pk
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