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1040NR for income only from 1042-S

taxprogo
Level 1

Hello,

My foreign (NR) client received small dividend income (< $200) represented on 1042-S. They had no other US source of income.  Do I still need to file a 1040NR if they don't have any other foreign income?

Also, does Proseries now support electronic filing of 1040NR with 1042-S income.

Thanks

 

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itonewbie
Level 15

If your client had filed a correct W8-BEN with the broker, the proper amount of tax was supposed to have been fully withheld and treaty benefits applied.  In that case, 1040NR will not need to be filed unless your client had US-ECI and/or other FDAP income, the tax on which is not properly withheld.

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Still an AllStar

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1 Reply 1
itonewbie
Level 15

If your client had filed a correct W8-BEN with the broker, the proper amount of tax was supposed to have been fully withheld and treaty benefits applied.  In that case, 1040NR will not need to be filed unless your client had US-ECI and/or other FDAP income, the tax on which is not properly withheld.

---------------------------------------------------------------------------------
Still an AllStar

View solution in original post