US tax documents FAQ | Robinhood

US tax documents FAQ

How do I access my tax documents?

You can find your US tax documents for the previous tax year with these steps:

  1. Select Account (person icon)
  2. Select Menu (3 bars) or if on the web, skip to the next step
  3. Go to Tax center
  4. Select a form to review its details

Why do I have multiple tax documents?

You may get multiple tax documents if any necessary corrections are applicable to your tax form from Robinhood.

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

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.

What’s a reportable tax event?

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:

  • Dividends
  • Miscellaneous income (reward or incentive payments)
  • Interest income

Do stock rewards and cash incentives affect my taxes?

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.

Why is income or NRA withholding reported to the IRS?

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.

Disclosures

Robinhood UK doesn’t provide tax advice. For specific questions, please seek advice.

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Robinhood does not provide investment advice. Individual investors should make their own decisions.

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All investing involves risk and a loss of principal is possible.

Robinhood U.K. Ltd (Robinhood UK) is authorised and regulated by the Financial Conduct Authority (FRN: 823590). Robinhood UK onboards UK customers and has the lead customer relationship with UK customers in relation to their use of the Robinhood UK app and website. Robinhood UK introduces UK customers to Robinhood Securities, LLC for order routing, execution, clearing, settlement, arranging custody services and margin lending to eligible UK customers with margin accounts. Robinhood Securities, LLC is regulated in the U.S. by the SEC and FINRA. Robinhood UK and Robinhood Securities, LLC are subsidiaries of Robinhood Markets, Inc.

Robinhood U.K. Ltd is a private limited company registered in England and Wales (09908051).

Robinhood does not provide investment advice. Individual investors should make their own decisions.

Commission-free trading of stocks refers to $0 commissions for Robinhood self-directed individual brokerage accounts that trade U.S. listed securities and ADRs. Keep in mind, other costs such as regulatory fees may apply to your brokerage account. Please see Robinhood UK’s Fee Schedule to learn more.

UK Privacy policy

Robinhood, 85 Willow Road, Menlo Park, CA 94025.© 2024 Robinhood. All rights reserved.