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- Distribution code for 1042S
Distribution code for 1042S
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MMG
Level 1
10-08-2021
07:37 AM
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Client cashed out a 401k after leaving the US (Non greencard holder non citizen). Financial institution issued 1042S and withheld 30%. I am entering as a replacement 1099R. with gross income = taxable income b/c 30% was withheld.
Should I check the box distibution code 1 no known exception?
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George4Tacks
Level 15
10-08-2021
09:20 AM
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