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Level 1
posted Mar 24, 2020 6:21:44 PM

SSA-1042S is the only form received

I received form SSA-1042S as the only source of income from USA. I live in Canada.

Do I have to file US tax return?

0 3 1129
3 Replies
Expert Alumni
Mar 24, 2020 6:41:07 PM

It depends. Are you a Canadian citizen? Is this your only US source of income? If the answer is yes to both of those questions, it is likely that you will not have to file.

 

SSA Totalization Agreement with Canada

Level 1
Mar 25, 2020 6:19:28 AM

Thank you for the quick reply. The answer is Yes to both questions.

Would it be beneficial to file the return this year (even if it's empty), if in the future (in 2 years) I will have another source of income (distributions from pensions)? 

Thank you!

Expert Alumni
Mar 25, 2020 7:27:12 AM

"It is normally not required to be reported on an information return. If you choose to report the income item on a Form 1042-S, use Exemption Code 03, Income is not from U.S. sources, when entering an amount for information reporting purposes".

Ref: IRS Foreign Source Income - Form 1042-S Reporting Not Required