https://ttlc.intuit.com/community/taxes/discussion/re-1042-s-understanding/01/2967599#M1083079 <P>thanks for the reply, but I think I have resolved it</P> Mon, 20 Mar 2023 20:07:40 GMT pmotley 2023-03-20T20:07:40Z https://ttlc.intuit.com/community/taxes/discussion/1042-s-understanding/01/2965618#M1082372 <P>I am a US citizen and received several 1042-S forms in relation to a foreign financial account. Income codes 01, 06, 36, 37 with various exemption codes. They each show some "gross income" and zero withholding, but I haven't actually seen any income (as I assume it is reinvested?). Do I need to report the reported "income" to the IRS?</P> Mon, 23 Feb 2026 14:31:09 GMT https://ttlc.intuit.com/community/taxes/discussion/1042-s-understanding/01/2965618#M1082372 pmotley 2026-02-23T14:31:09Z https://ttlc.intuit.com/community/taxes/discussion/re-1042-s-understanding/01/2967579#M1083075 <P>Yes but before i comment, what are the exemption codes you are referring to?</P> Mon, 20 Mar 2023 20:01:26 GMT https://ttlc.intuit.com/community/taxes/discussion/re-1042-s-understanding/01/2967579#M1083075 DaveF1006 2023-03-20T20:01:26Z https://ttlc.intuit.com/community/taxes/discussion/re-1042-s-understanding/01/2967599#M1083079 <P>thanks for the reply, but I think I have resolved it</P> Mon, 20 Mar 2023 20:07:40 GMT https://ttlc.intuit.com/community/taxes/discussion/re-1042-s-understanding/01/2967599#M1083079 pmotley 2023-03-20T20:07:40Z