RA with 1042S from stock account

[jaychoudai]

Hello,

I sent W8-BEN form two years ago when I opened my stock account. And I was filing tax as NRA with 1042S got from the stock company before 2022. However, I should file as a RA for 2022 now since I studied in the US since Aug 2017 and graduated in Aug 2022. So, how should I report the 1042S from the stock account for a RA tax filing?

Thanks!

[DaveF1006]

It depends. To clarify, was this from stock that you purchased and then sold for a profit and loss or some other type of stock transaction? 

[jaychoudai]

It shows an income code of 06 on the 1042S. It should be dividends income with a 10% tax withheld for NRA account holders with the W8-BEN document on file. I wonder if there is any problem with filing tax with this 1042S form as an RA status.

[RobertB4444]

It shouldn't be any problem to report the 1042S on your form 1040.  You would enter it as a form 1099-DIV under dividend income for the dividends that you received.  You can also request that your investment broker reissue you the correct form since you are a resident now.

@jaychoudai