I am Canadian tax resident and Canadian. No USA citizenship or green card.
I have got form 1042-S from US bank (with huge $56 interest )
1 is 29 –deposit interest
3a is 01 –effectively connected income
No federal tax withheld
It looks as I must to put $56 to form 1040-NR in line 9a (taxable interest) and pay US tax.
Is it correct?
What do you think?
You would apply your 1042-s slip under "Interest on bank accounts not reported on a Tslip" this is under the "Income" tab then "Investment" tab, once the amount has been entered there, it will go to line 12100 of your detailed tax summary.
Please review the link below from TurboTax for more detailed information:
Is it for Canadian Taxes or for USA taxes.
Should I put this money in 1040-NR ? If yes then where?
Thanks
The entry provided is for your Canadian tax return for your 1042-S.
Your 1040NR is for your US tax return, not your Canadian one. From the IRS, please click here to assist you with entering your 1040NR on your American tax return.
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