Schedule Q (Form 1042) Template

Use this schedule to report a qualified derivatives dealer tax liability as an attachment to Form 1042.

By using this template, you agree to our Template Terms of Use.

Why use a Schedule Q (Form 1042)?

Schedule Q helps a taxpayer report QDD identifying details, tax year periods, gross amounts, rates, and liability totals.

Report QDD liability

Record QDD tax liability amounts under the Qualified Intermediary Agreement.
Separate each QDD

Use one schedule for each qualified derivatives dealer or required reporting period.
Organize calculations

Capture gross amounts, withholding tax rates, and calculated tax liability fields.

This template includes taxpayer and QDD details, reporting periods, summary liability lines, and QDD filing instructions.

Taxpayer and QDD details
Fields capture taxpayer name, EIN, QDD name, QI-EIN, and QDD tax year dates.
Reporting period fields
Includes beginning and ending dates for the year or portion of year reported.
Summary liability table
Provides gross amount, withholding tax rate, and tax liability columns.
Section 871(m) amounts
Includes lines for section 871(m) amounts and dividends received as a dealer.
QIA liability lines
Covers tax liability under sections 3.09(A), 3.09(B), and 3.09(C) of the QIA.