Printable Form Instruction 1042-S Visalia California 2024-2025

Printable Form Instruction 1042-S Visalia California: What You Should Know

Box 8 covers payments of dividends and interest paid from foreign sources. In this box, enter the type of nonresident alien recipient, if any. If the amount of the payment was paid by a tax-exempt organization (501(c)(3), 431(a)(5), or 530(a)(3) organization), enter the name of the organization. For an organization that receives a transfer of assets, enter the name of the transferee. Enter the type of nonresident alien recipient, if any. If the amount of the payment was paid by a federal contractor or grantee, enter the organization's name.5. Under Box 12: Enter the total of the following: the amount the nonresident alien received, the class of account for the payment, the date of payment, and the gross income reported on the return. (The date shown in Box 8 should match the date you file each return.) For Example, “Date of payment” would be in Box 10 or 11. The gross income entered in Box 10 is the entire gross income received, including all income taxes withheld. For Example, you received gross income of 20,000 for the year, so you have in Box 10, 20,000. You have no gross income in box 11.6. Subtract Box 8 from the total gross income reported on Form 1042. For Example, 10,000 was reported in Box 10, of which 10,000 is in Box 9. So in Box 10 you have 5,000 (10 × 10,000) and in Subtract Box 9 from 10,000 you have 3,500. Enter 0 (zero) in Box 11.7. Enter the total of the following: Box 12 minus Box 8—gross income reported on box 11. For Example, Box 12 is 0 and Box 9 is 4,000. If you have no gross income in box 11, enter zero in box 11.8. Subtract Box 12 minus Box 9—gross income reported on box 11 minus Box 9. For Example, Box 5 minus Box 9 is 0 and Box 5 is 2,500. If you have no gross income in box 11, enter zero in Box 11.9. Box 10 would be the final value to report on Form 1042-S for the year.11. Use the following table to determine the tax withholding for each type of income to be deducted in Box 10.

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