Form 1042-S

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
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cheesepep
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Joined: Wed Feb 17, 2010 9:58 pm

Form 1042-S

Post by cheesepep »

My friend, a non-resident of the U.S. (does not live in the US, does not work in the US, receives no US income at all), received a form 1042-S from the IRS. It has box 2 (gross income) of 31.00 and box 7a (federal tax withheld) of 9.00 and box 10 (total withholding credit) of 9.00. All other boxes are blank. She received it because she has a Schwab account (an international account that they let non-resident aliens have).

I am not sure why she received it. When she sells a stock, the taxes get taken out automatically. In any case, what should she do about this form? Does she need to file US taxes? She has no SSN or anything like that.

edit: never mind. I found the answer by viewing a previous post which made reference to the wiki about this:

https://www.bogleheads.org/wiki/Nonresi ... cessary.3F

Super helpful.
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