Form 1042-S reports wage payments for foreign nationals who are exempt from U.S. taxation under a tax treaty. This form is also used to report non-wage payments for foreign nationals who are also nonresident aliens. Foreign nationals qualified to receive the 1042-S must attach the form to their tax returns.
Wages subject to U.S. taxation are reported on a W-2 form, not the 1042-S form.
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|Tuition charged for the calendar year:||$32,228.00|
|1042-S form would reflect the following amount:||$1,772.00|
Note: If only a portion of compensation/wages/earnings were exempt from income tax withholding due to a treaty article agreement, ONLY that portion would be reflected on the 1042-S form.
|Compensation/wages/earnings in the amount of:||$6,500.49|
|The 1042-S form will reflect the following amount:||$5,000.00|
|The individual will also receive a W-2 form reflecting the following amount:||$1,500.49|
|Tuition charged for the calendar year||$32,228.00|
|NO 1042-S form would be generated|