File 1042S in a resident alien tax return

I changed my status from non resident to a resident alien in 2024. However, I received 1042S from etrade detailing income from stock dividends. It mentions the income and also the fedral tax withheld (25%). Additionally, in box 4a (exemption code) 15 is mentioned. How should I report this income?

1277

Expert Alumni

Mar 29, 2025 10:47:43 AM

Code 15 - you are not exempt under a treaty and this income must be reported. It should be reported as close to US matching form as possible.

Stock dividends are reported on 1099-DIV box 1. You can use payer's TIN code 99-9999900. Enter the tax in box 4.

Returning Member

Mar 29, 2025 1:04:23 PM

Thanks for your reply!

Is this the only correct method to file this? Are there any caveats filing 1042-S as a 1099-DIV?

@AmyC

Expert Alumni

Apr 2, 2025 1:18:08 PM

No, there are no caveats in filing this way. This is the correct method for reporting as it is a dividend.

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File 1042S in a resident alien tax return