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Form 1042-S Foreign Person’s U.S. Source Income Subject to Withholding is used to report amounts paid to foreign persons (including persons presumed to be foreign) that are subject to tax withholding, even if no amount is deducted and withheld from the payment because of a treaty or code exception to taxation, or if any amount withheld was repaid to the payee. It is also used to report amounts withheld under Chapter 3 of the Internal Revenue Code.

To enter your gambling winnings reported on Form 1042-S in TaxAct:

  1. From within your TaxAct return (Online or Desktop), click Tools down the left to expand, then click Forms Assistant. On smaller devices, click in the upper left-hand corner, then click Tools.
  2. Click to expand the FEDERAL Forms folder, then click to expand the Forms & Schedules folder.
  3. Click Form 1042-S - Foreign Person's U.S. Source Income Subject to Withholding, then click Add to create a form or click Form to edit an existing one.
  4. Enter the information requested, then click Save & Close.

Note. This only applies if either the taxpayer or the spouse is a nonresident.

Additional Information

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.


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