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Form 1042-S Reporting: Separating Income Sources on Itemized Invoices
March 28, 2025
Q. Should we separate the amounts for Form 1042-S reporting when the sources of income differ between two components billed on the same invoice? In this specific situation, we have a Canadian vendor who came to the U.S. to install and support equipment that was shipped to us. The invoice includes $10,621.00 for key fobs and equipment, $600.00 for shipping, and $2,000.00 for on-site installation and support of the equipment. Should we separate these charges since the bill is itemized and only…
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