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Reporting payment to a resident alien
March 20, 2024
Q. We paid a foreign person for rental income in 2023, but during the year they moved to the US and became a resident alien. I tried to obtain a W-9 during 2023, but they did not provide it until February 2024. Do I have to report their income on a 1042-S for tax year 2023, or am I supposed to issue a 1099-MISC since they became a resident alien during that tax year?
A.
(Answered by IOFM's third-party tax experts)
Form 1099-MISC. The Internal Revenue Code provides at sec. 7701(b)(2)(A)(iii)…
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