Question
Form 1040NR - Portfolio interest
My client was issued 1042-S with income code 01 and exemption code 05. I have already entered the 1042-S in Proconnect tax but when I enter the same amount in Schedule NEC on line 2(c) Interest --> Others. I get the below error. Can anyone guide on how to go about fixing this error?
"For efile purposes, the tax rate on Schedule NEC, column (d) must be greater than 15.0% when the country of residence for the year is India and an amount is present on line 2c of the same column. US - Ref #46725"
Thanks!
