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Form 1042-S is used to report amounts paid to foreign persons that are subject to income tax withholding, even if no amount is deducted and withheld from the payment because of a treaty or exception to taxation, or if any amount withheld was repaid to the payee. It is also used to report amounts withheld under Chapter 3 of the Internal Revenue Code.
*Sometimes, this form is mailed out strictly for informational purposes and therefore does not need to be included on your return. This is often the case when Resident Aliens receive this form.
The significant items on the 1042-S form are Box 7 and Box 10. Box 7 is US Federal Tax Withheld and Box 10 is Withholding Credit. If both of those boxes are 0, then nothing was withheld and there is no withholding credit and the 1042-S form is just for your informational purposes. *
Although TurboTax has never supported Form 1040NR: U.S. Nonresident Alien Income Tax Return, we have a partnership with Sprintax offering a nonresident tax filing solution to our TurboTax customers.
Visit the TurboTax/Sprintax site for more info or to get started.
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