form 1042-S

Technical topics regarding tax preparation.
#1
juro  
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Box #2 of form 1042-S reports $12k of income for a foreign individual for year 2017. Fed w/h is $3,600.00, which is reported on the form 1040NR.

The payer is a mgmt company of rental property.

The foreign individual owns rental property, which is managed by the payer. He is reporting all
activity on a form 1065, for an entity of which he & his spouse own 100%. Both have applied for an ITIN.

Total rent revenue equals the income reported on the form 1042-S.

How does the income get reported from the form 1042-S?
 

#2
Doug M  
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What is the code in Box 1? 14?
 

#3
juro  
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Doug M wrote:What is the code in Box 1? 14?


yes.
 

#4
juro  
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anyone?
 

#5
HowardS  
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For a partnership, form 8825 is used to report rental income/expenses.
Retired, no salvage value.
 

#6
Smktax  
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Is the entity that is filing the 1065 a U.S. entity?
 

#7
juro  
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Smktax wrote:Is the entity that is filing the 1065 a U.S. entity?


yes.
 

#8
Smktax  
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You mention that

juro wrote:The foreign individual owns rental property * * *


but then you refer to a US entity filing a 1065. Does a US entity own the rental property or does the foreign individual own the rental property?
 


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