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Question on form 1042-S

Personal Finance & Money Asked by DudeFromEU on February 13, 2021

Some context

I’m not an US citizen, but since December 2020 I’m selling some ebooks on Amazon.com.

In December 2020 I had some sales, and from what I understood, I should be getting a payment in late February of the following year (Amazon makes payments 60 days after), which means payment in February 2021.

Every year I will get a Form 1042-S for received income, a form that will be made available by March 15 in the current year, for payments from the previous year.

Question

Since I sold stuff in December 2020, and will receive payment somewhere in February 2021, will I get a Form 1042-S this year, 2021, or will I get the first form in 2022?

In other words, will the Form 1042-S apply to my sells in December or to the payment I will receive from Amazon in February?

One Answer

Form 1042-S goes by the calendar year and reports payments to you, not sales. If your first payment will be in February 2021, then I expect that your first Form 1042-S would be sent in the first part of 2022. This will be the 2021 version of the form, as it covers all the payments and withholdings made during calendar year 2021.

Answered by Ben Miller - Remember Monica on February 13, 2021

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