Catherine Posted March 28, 2009 Report Share 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 Link to comment Share on other sites More sharing options...
Lion EA Posted March 28, 2009 Report Share 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 Link to comment Share on other sites More sharing options...
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