Catherine Posted March 28, 2009 Report Posted March 28, 2009 New clients; resident aliens. Among other items, I have here a 1042-S with income code 29 (Deposit interest, from a mortgage escrow). Where do I report this? Do I just add it as a line item to Schedule B? Haven't come across one of these before. The rest of the return is pretty straightforward. I think. TIA, Catherine Quote
Lion EA Posted March 28, 2009 Report Posted March 28, 2009 I think it's just interest. Might have withholding. Usually they get a 1042-S if they have a foreign address. They need to notify the mortgage company of their US address -- which might be the same as the house they're financing and known to the company, but the computer didn't figure that out. Quote
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