Robinhood Tax Forms
Contents
Robinhood is one of the most popular financial services companies in the US, allowing its customers to trade stocks and cryptocurrencies. It’s a great platform for those looking to get a simplified overview of trading stocks. Although you are most likely to look elsewhere if you’re trading stocks and cryptocurrencies regularly, Robinhood provides some of the best value overall.
Expecting tax forms from Robinhood
Companies are required to report the payments made to individuals, and Robinhood is no different. Right before the start of every tax season, Robinhood issues tens of millions of tax forms annually.
Since it’s a financial services company, expect to receive the following tax forms from Robinhood.
If you’ve engaged in the trade of cryptocurrencies, you’ll receive it from Robinhood Crypto, not the main company itself.
How to get Robinhood tax forms?
Navigate through the application and get to your tax documents. You’ll also get a notification when the tax forms are filed for you.
On the application, follow these steps to retrieve your tax forms.
- On the top right corner, tap on Account.
- From the account menu, get to Statements and History.
- Lastly, tap on Tax Documents, and you’ll see the available tax forms that are issued to you.
If you’re accessing Robinhood on the web, click here to get your tax forms.
Using Robinhood tax forms to file your tax return
The 1099s you get from Robinhood are information returns that report the income you earned. This income, like any other, must be reported on your federal income tax return. Use the money amounts to calculate the type of income earned in total during the tax year and write it on your tax return accordingly.
For example, if the total 1099-DIVs say that you earned $500 in dividends, enter it on Form 1040, your federal income tax return.
As for attaching the tax forms you get, this is only necessary if you’re filing a paper return. When filing it electronically, you don’t need to do anything to “attach” the documents as they are ordered by the tax preparation service.
Attach Forms 1099 you get from Robinhood by first printing paper copies, then staple them on the right or left corner of your return. If there are too many tax forms, keep them in the same file. As long as they are intact and in the same package, there isn’t anything additional you need to do.
