US tax documents FAQ
You can find your US tax documents for the previous tax year with these steps:
You may get multiple tax documents if any necessary corrections are applicable to your tax form from Robinhood.
If you received less than $0.50 in US-sourced income, you won’t receive a tax document. Non-US sourced dividends (paid by non-US companies) and most gross proceeds from sell trades are not reported on a Form 1042-S. If you were charged less than $0.50 in NRA (non-resident alien) withholding, you won’t see the withholding on your tax form.
Any transaction that results in US-sourced income or NRA withholding that is reportable to the IRS (Internal Revenue Service, the tax authority of the US) will generate a tax form. Examples of US-sourced income that is subject to IRS reporting are:
If you receive free stocks or receive any cash incentives, it will be reported as US-sourced income. These stock or cash rewards will be reported as other or miscellaneous income on form 1042-S and would have been subject to 30% NRA withholding.
Robinhood Securities LLC (US entity) is required by IRS regulations to report any US-sourced income received by non-US persons. The IRS rules also require NRA withholding on certain US-sourced income received by non-US persons.
Robinhood UK doesn’t provide tax advice. For specific questions, please seek advice.