what to do with 1042 s?

Usually, the 1042 s is issued to report  a US pension amount paid to a non-US citizen.  So yes, it is reportable as foreign pension income.  The 1042 s can also be issued for other things, but generally would be a Canadian taxable item, such as a sale of a real estate property in the US.

On which tax form/tax slip in Profile should we input box 2 (Gross Income) and 7a (Federal Tax withheld) of Form 1042-S?

What is the income code in Box 1 of the 1042 - S, and what was the % of tax withheld?

The income code on box 1 is 12 - Other royalties (for example, copyright, software, broadcasting, endorsement payments)

% of tax withheld was 30%.

Thanks.

Royalty income should be reported on a T2125 - business schedule.  Remember to convert it to Canadian $$.  You will have to complete the FTC schedule to report that the business income was foreign, and record the US tax withheld there.  BUT - according to the US/Canadian tax treaty, they should only have withheld 10% tax from Royalty income.  That is the most you can claim as a FTC on the Canadian return.  To get the rest back, the taxpayer will have to file a US 1040NR.

We are a US Corporation wholly owned by an Ireland Corporation. We paid a large dividend to them and withheld 5% (per treaty).

The 1042 tax deposit has been done.

We have a W-8BEN-E on file and they are a passive entity - Chapter 4 Status.

I will fill out the 1042-S and submit with the 1042T and also the 1042 will be filed timely.

A 1099-DIV will also be reported - This Ireland Corporation does not have a TIN.

How will they get credit for the 1042 withholding without it?

I have contacted the IRS International Help line and was told (after waiting 45 minutes) that this matter was out of their scope.

I appreciate any help!

Kathleen