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Posted by stevels70@googlemail.com on February 6, 2007, 9:20 pm
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Hi,
I finally got my 1099-B module from the online bank (see thread:
http://groups.google.com/group/misc.taxes.moderated/browse_frm/thread/7302c2167534809/cc6a135f35c18b3a?lnk=gst&q=stefano&rnum=1&hl=en#cc6a135f35c18b3a
). So I got 1099-B and not 1042s.
Anyway, in the 1099-B I get the gross income generated
exercising the stocks (namely $4,089.67) and the "Federal
Inc. Tax Withheld" (namely $1,145.11 that is exactly the 28%
of the gross income).
I have been told to write down the gross income in Item "L",
page 5, of the 1040NR as follows:
"$4089.67 - Stock Sales - NRA 183 days Rule"
and the tax withheld on items 59, 70, 71, 72a on page 2 of
the 1040NR.
Since I got it talking with IRS help support, but I cannot
find clear instructions on paper, could someone please
advise? That is, is Item "L" the right point to report such
backup withholding?
Thanks
Stefano
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