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I am US citizen working for MNC. I was transferred to another branch of MNC. This branch is outside USA.

I have a stock account with Fidelity. For filing 2017 tax, I realized that they consider me as non-resident US and provide me 1042S instead of 1099-DIV. Actually being US citizen I was to be provided 1099-DIV. 1042S is meant for non-US citizen.

Can I report the 1042S as 1099-DIV in my 2017 tax filing? The amount is for around $1200 dollars.

  • @Close voters - what's unclear about this question? OP asks a clear question (can I report the information from the 1042S as (if it came from a) 1099-div). If there's something left out that you feel needs to be here for this answer, please add a comment to that effect? – Joe Jun 22 '18 at 14:36
  • You typically receive a 1042-S because the payor withheld taxes. Is there an amount in box 10? If so, you definitely want to make sure that this amount gets transferred to the right place on a replacement 1099, or if the 1042 is not replaced, that this amount is otherwise reported as tax withheld, since you should be getting a dollar-for-dollar credit for this amount on your return. – Scott Dudley Jun 22 '18 at 16:29
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If necessary, you can report the income as a 1099-DIV, if you have the complete information necessary to report that (qualified/not qualified dividends, cost basis, whatnot). See for example this Turbotax answer.

You should first, though, try to obtain the correct form; contact Fidelity and let them know that you need that form instead. It may be difficult, but should not be impossible, to obtain it. This also will hopefully ensure you receive the correct form in 2018.

  • Thanks . Called up fidelity. They confirmed that I am considered as US citizen and have send 1099-DIV. The previous call agent from Fidelity incorrectly had informed me that I was send 1042-S instead of 1099-DIV. – murthy Jul 2 '18 at 7:17

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