I am Canadian and have a deposit in USA bank. I try to prepare 1040-NR for IRS.
I got 1042-S form with:
1-income code -29;
2- $xxxxx
3-charter indicator -3
3a- exemption code 01
4a- code -15
13f- ch.3 status code -16
13g- Ch4 status code -37
3b,5,6,7a,8 - $0.00
Should i include gross income (block 2) into 1040-NR form for US taxation.
1042-s deposit interest
Moderator: Mark T Serbinski CA CPA
Re: 1042-s deposit interest
Non-residents do not report US bank interest on their 1040NR.
Simply include it on your Cdn return.
Simply include it on your Cdn return.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best