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dac10012
Returning Member

Multiple 1042-S

My spouse received multiple 1042-S as a nonresident alien last year, 3 on 3-7-25 and 2 on 3-12-25. We are filing an amended 1040 for 2024 and need to know which realized capital gain to show: all of the 5 amounts, or does the more recent 3-12-25 1042-S supersede the older 3-7-25 form? Also, according to the below, since she had no other income than investments, perhaps we don't need to show any investment capital gains? Thanks.

 

f You Receive Form 1042-S, Does That Mean You Have U.S. Tax Obligations?

"No, this does not trigger automatic U.S. filing requirements. As mentioned above, certain types of income received are passive in nature and are subject to a flat tax corresponding to the statutory 30% withholding. If that constitutes the entirety of your US-sourced income, you likely do not have a filing requirement, since IRS already has their money. " 

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