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1042-S Income Codes

Here are the country codes as acceptable to be imported for 1042-S generation. 

Income CodesDescription
01Interest paid by U.S. obligors—general
02Interest paid on real property mortgages
03Interest paid to controlling foreign corporations
04Interest paid by foreign corporations
05Interest on tax-free covenant bonds
06Dividends paid by U.S. corporations—general
07Dividends qualifying for direct dividend rate
08Dividends paid by foreign corporations
09Capital gains
10Industrial royalties
11Motion picture or television copyright royalties
12Other royalties (for example, copyright, software, broadcasting, endorsement payments)
13Royalties paid on certain publicly offered securities
14Real property income and natural resources royalties
15Pensions, annuities, alimony, and/or insurance premiums
16Scholarship or fellowship grants
17Compensation for independent personal services
18Compensation for dependent personal services
19Compensation for teaching
20Compensation during studying and training
22Interest paid on deposit with a foreign branch of a domestic corporation or partnership
23Other income
24Qualified investment entity (QIE) distributions of capital gains
25Trust distributions subject to IRC section 1445
26Unsevered growing crops and timber distributions by a trust subject to IRC section 1445
27Publicly traded partnership distributions subject to IRC section 1446(a)
28Gambling winnings
29Deposit interest
30Original issue discount (OID)
31Short-term OID
32Notional principal contract income
33Substitute payment—interest
35Substitute payment—other
36Capital gains distributions
37Return of capital
38Eligible deferred compensation items subject to IRC section 877A(d)(1)
39Distributions from a nongrantor trust subject to IRC section 877A(f)(1
40Other dividend equivalents under IRC section 871(m)
41Guarantee of indebtedness
42Earnings as an artist or athlete—no central withholding agreement
43Earnings as an artist or athlete—central withholding agreement
44Specified federal procurement payments
50Income previously reported under escrow procedure
51Interest paid on certain actively traded or publicly offered securities
52Dividends paid on certain actively traded or publicly offered securities
53Substitute payments—dividends from certain actively traded or publicly offered securities
54Substitute payments—interest from certain actively traded or publicly offered securities
55Taxable death benefits on life insurance contracts
56Dividend equivalents under IRC section 871(m) as a result of applying the combined transaction rules
57Amount realized under IRC section 1446(f)
58Publicly traded partnership distributions—undetermined
59Consent fees
60Loan syndication fees
61Settlement payments


 

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