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Phil Y
New Member

International student, NRA, received 1042s instead of 1099

I have a W8 on file when opening my brokerage account, so I received a 1042s instead of 1099. But as a nonresident alien student, I have to pay a flat 30% tax according to IRS. Please tell me how should I file this tax. One of my friends told me I have to manually enter all the trades I've made last year, but that's almost 600 trades. I'm so desperate now. Please do tell me what should I do now.

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1 Reply
rjs
Level 15
Level 15

International student, NRA, received 1042s instead of 1099

Since you are a nonresident alien you cannot use TurboTax to file your tax return. You have to file Form 1040-NR, which TurboTax does not support.


TurboTax has a partnership with Sprintax to prepare a Form 1040-NR federal tax return and corresponding state tax return for certain categories of nonresident aliens - international students, scholars and non-resident professionals. Go to the link below for the details of who can use Sprintax, and to get started. Contact Sprintax support for help with how to enter your brokerage trades in Sprintax.


Sprintax

 

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