Disclaimer: This content is intended for general informational purposes only and should not be construed or relied upon as tax, legal or financial advice, or applicable to your particular situation. You should consult with your own tax advisor regarding your tax obligations. The views expressed in any of these resources do not represent the views and are not affiliated with or endorsed by Vrbo or Expedia Group in any way. 

To reconcile the amounts in box 2 or box 7a of your Form 1042-S you will need to export a copy of your Payout Summary for the preceding calendar year. This report reflects all payment and refund transactions processed through the Vrbo payment platform. The data on this report is organized by the listing number (Property ID) as seen in column A.

To access this report:

  1. Login to your account 
  2. Select Reservation Manager 
  3. Select Financial Reporting 
  4. From the Payout Summary tab:
    • Select the start and end dates for the previous calendar year 
    • Select Payouts within this date range in the next box.  
    • Select Download to export the Payout Summary 
  5. It is important to save this report immediately after it downloads.

Note: Sometimes the download speeds can be slow due to the amount of data being exported for an entire year. 

Once you have the Payout Summary exported, locate the Gross Booking Amount and Tax Withheld columns.

  • Box 2 should generally agree to the sum of all the reportable payment and refund transactions in the Gross Booking Amount column of the Payout Summary.
  • Box 7a should generally equal the sum of all the reportable payment and refund transactions in the Tax Withheld column of the Payout Summary.
If your bank account(s) were associated with different tax IDs, or payee names throughout the calendar year, even on the same listing in some instances, there will be a 1042-S for each tax ID or payee name. If you receive multiple 1042-S forms, you may see that one has a withholding amount in Box 7a, but the other doesn’t. This is because there were different W-8 form types on file during the last calendar year. To reconcile the sums on the Payout Summary, you may need to combine amounts across each 1042-S form.

For example: If you completed a tax Form W-8BEN (or W-8BEN-E) in February, then updated to a tax Form W-8ECI on June 1st:
  • From February to May: Disbursements were subject to withholding. The withheld amount will be shown on one 1042-S along with the gross income for that time period.
  • From June to December: Disbursements were exempt from withholding, and no money was withheld. This will get a separate 1042-S showing the exemption and -0- withholding along with the gross income for that time period.
If you need help reconciling your 1042-S at a transaction level, you should consult your tax advisor.