It offers one of the smoothest and easiest trading experiences of any broker we review (although as we’ll discuss below, that ease-of-use may be a double-edged sword for some users). That feature was a first among non-employer-sponsored retirement accounts. Robinhood provides free stock, ETF and cryptocurrency trades, a 1% match on IRAs, and its account minimum is $0. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Makes me feel much more confident about tackling this year’s taxes! If I run into any issues or need additional forms, I can always pay the extra fee to add them rather than upgrading to Premier upfront.

Robinhood makes tax season manageable by consolidating your 1099 forms into a single PDF, accessible through the app or website’s Tax Center. Robinhood typically makes your 1099 forms available by mid-February for the previous tax year. Failing to report your Robinhood activity on your taxes can lead to serious consequences, even if it’s unintentional. If you’ve closed your Robinhood account, don’t worry—the Tax Center still retains access to your forms, so you can follow the same steps to retrieve them. Downloading your Robinhood tax forms is straightforward once they’re available. Note that certain forms, like 1099-R (for Robinhood Retirement distributions) or 1042-S (for non-US persons with US-sourced income), are provided separately if they apply to you.

With Robinhood Gold’s 3% match, if you contribute $7,000 to your IRA (the contribution limit for those 50 and under in xcritical rezension 2025), you’d earn $210 in interest. To offer a more complete evaluation, we’ve used an AI tool to comb user comments on public fxcriticals like Reddit and app reviews for iOS and Android. NerdWallet’s evaluations focus on data we collect, like account fees, portfolio diversification, features and account minimums, as well as our own testers’ experiences. The card has no additional annual fees and no foreign transaction fees, and comes with perks like concierge service.

How Do I Report My Robinhood Crypto Taxes If I Can’t Use Form 1099?

The process of uploading a Robinhood tax form into TurboTax will depend on whether you’re reporting securities transactions or crypto trades. You may end up with two tax documents if you traded both stocks and cryptocurrencies and generated a reportable income. As a Robinhood UK customer, you might receive tax forms from us for US-sourced income. Robinhood provides a Consolidated 1099 PDF from Robinhood Markets, Inc., which includes forms like 1099-B (for sales of securities or crypto), 1099-DIV (for dividends), and 1099-MISC (for miscellaneous income like referral bonuses), among others, if applicable.

State and Federal tax filing

Note, if you have a B-Notice, you won’t be able to open an IRA until your account restrictions are lifted. The Robinhood IRA is available to any of our US customers with a Robinhood investing account in good standing. Links to third party sites are being provided for informational purposes only. For specific questions, you should consult a tax professional. You must have compensation (wage income) in order to contribute to an IRA. Contributions will be reported on IRS Form 5498, which is issued annually in May.

Form 1099-B shows gain and loss data from selling securities.

When Will Robinhood Tax Documents Be Available?

8This makes sense, but does that mean I should be tracking these contributions somewhere for tax purposes? When you get your paycheck, taxes were already withheld. I didn’t see any taxes taken out when I made the deposit.So when exactly do I pay these taxes? If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly.

• As a result, investors have enough time to prepare and file their tax returns before the typical April 15 tax filing deadline.
• Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations.
• Form W-8BEN is a required tax form certifying that an individual is a non-US person and a beneficial owner for US tax purposes.
• While the combined PDF is comprehensive, it’s essential to be aware that some forms might not be included.

Should You Invest With Robinhood? Our 2026 Review

Need help navigating your taxes? Do I need to file Robinhood taxes? Currently, only gross proceeds shown in the Robinhood Crypto Form 1099-DA and rewards shown in the Robinhood Crypto 1099-MISC (if $600 or more) are reported to the IRS for the 2025 tax year. Keep in mind that Robinhood will perform a general verification on the information entered versus the market data available for that crypto and date.

Compare to Similar Brokers

(An ACAT transfer is when you want to transfer your investments to another broker; there’s no fee for selling your investments and having the money transferred via ACH to your bank.) However, some of its account fees put it at a disadvantage to its competitors. This means bank transfers of up to $1,000 are available instantly for investing. The company says approved customers are notified in less than an hour, at which point they can initiate bank transfers.

Why didn’t I get a tax document or see NRA withholding?

• If your financial activities on Robinhood didn’t involve reportable events, it’s important to note that you may not receive a Form 1099.
• In this case, tax lots with an unknown or zero (0) cost basis will be closed first before applying the FIFO methodology.
• Visit the IRS website and consult a tax advisor for your specific situation.
• Links to third party sites are being provided for informational purposes only.

Gold members are also eligible for the Robinhood Gold Card, a credit card that offers 3% cash back on all purchases, and 5% cash back on travel purchases booked through the Robinhood travel portal. Robinhood shook up the IRA market with its 1% match on contributions — an offer that is typically only available through employer retirement plans. Customers can withdraw crypto from Robinhood to a wallet of their choice.

Do stock rewards and cash incentives affect my taxes?

The suggestion about taxr.ai is interesting too – might give that a try if I find myself getting confused with the cost basis calculations.Really appreciate everyone sharing their experiences, especially those who were in similar situations with Robinhood crypto trading. The main benefit for crypto is that they don’t charge extra fees for multiple investment forms or transactions like TurboTax does once you hit certain limits. For just Robinhood crypto with proper 1099 forms, the difference in functionality is minimal. So if you start with Deluxe and realize you need the investment forms, you can always add them at filing time.For Robinhood crypto specifically, I used Deluxe last year for about 25 transactions.

However, if you’re unsure, it’s worth checking your account, https://dreamlinetrading.com/ as even small transactions might trigger a form. If none of these apply—if you simply held investments without selling or didn’t meet the income thresholds—you won’t receive a 1099. Call the experienced crypto tax team at Gordon Tax today. If the cost basis reported on the Robinhood Form 1099 does not match your records, you can indicate on your tax return that you are adjusting the reported cost basis.

IRS Form 1099-R is delivered by January 31 of the year following the activity that generated the form. This information is required when completing your request via Docusign. If the contribution was transferred to Robinhood, we may be able to process the recharacterization. If you made the original contribution at another firm, you’ll need to contact that firm directly to request a recharacterization. A recharacterization moves a contribution between Traditional and Roth IRAs. Robinhood Securities LLC (member SIPC) provides clearing services.

Saved me hours of figuring out cost basis and making sure my reporting was consistent across all platforms. The taxr.ai tool basically analyzed my forms and transaction history, organized everything properly, and made it super clear what needed to go where in TurboTax Deluxe. If you’ve made trades across multiple platforms or have crypto from mining/staking, that would be more complex, but for straightforward Robinhood transactions where they track the cost basis for you, Deluxe works perfectly fine.

You’ll get a series of Form 480.6 if you receive dividends, interest, gross proceeds, or other reportable payments from a company domiciled in Puerto Rico during this tax year, or you were a resident of Puerto Rico this year for tax purposes. If you’re certified as a non-US person for tax purposes and receive US-sourced income, you may get a 1042-S. If no contributions take place during the tax year, Robinhood will use the year end statement value for the 5498 filing with the IRS and you won’t receive a Form 5498 in this case. You’ll also receive a Form 5498 if you completed a Roth conversion or Rollover contributions during the tax year.