How to correct errors on your tax form | Robinhood

How to correct errors on your tax form

If your tax form has any inaccuracies, we’ll issue you a corrected form. Some of the most common reasons for getting a correction include:

  • A company where you own shares adjusted their dividend or income
  • You transferred your account and the cost basis of your positions was inaccurate
  • You updated your social security number

Carefully review your tax forms to ensure all the information is accurate. If you find an error, read on to learn what you need to do. If you need a corrected form, you’ll generally be able to view it 1-2 weeks after the correction has been made.

Correcting your address or misspelled name

Keep in mind

Address changes and minor name changes generally don’t require a corrected Form 1099, such as a small misspelling or missing your middle initial. For minor changes, simply file your taxes with your correct address and spelling of your name with your existing Form 1099.

To update your address with us, follow the steps in Update your address.

To update your legal name or correct a major misspelling, you need to send a request to us with the following information:

  • A photo of the legal name change court document or marriage license
  • An updated, government-issued photo ID with your preferred name
  • A signed letter of authorization from you requesting the name change on your Robinhood account

After we get a request with the required information, we’ll update your name in our system.

Correcting trade history

If you believe there’s a discrepancy on your Form 1099, send a request to us with a screenshot of the error and a screenshot showing the correct trade from one of the following:

  • Account statement
  • Account history
  • Trade confirmation

After you submit the request, we’ll review the trade. If there’s an error, we’ll provide a correction and send you a corrected Form 1099. If there’s no error, we’ll notify you about it.

Correcting a social security number

If the social security number on your Form 1099 is incorrect, you’ll need to provide a copy of your social security card in order to update it. Contact our support team as soon as possible to update your social security number. After you get a corrected tax form 1099 from us, you can file your taxes using the corrected form.

Where to get a corrected Form 1099

During tax season, we’ll upload the corrected Form 1099 to your app 1-2 weeks after we’ve made a correction. The new version will include corrected in the title with a more recent date than your original Form 1099. Be sure you’re using the latest version of the app to view your corrected Form 1099.

Make sure to use the corrected Form 1099 when filing your taxes. If you’ve already filed your taxes with the old document, you may need to file them again with the corrected form.

We don’t provide tax advice. For specific questions about your tax situation, consult a tax professional.

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Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker-dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC). Cryptocurrency services are offered through Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Credit card products are offered by Robinhood Credit, Inc. (“RCT“) (NMLS ID: 1781911 and issued by Coastal Community Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

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All investing involves risk.

Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker-dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC). Cryptocurrency services are offered through Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Credit card products are offered by Robinhood Credit, Inc. (“RCT“) (NMLS ID: 1781911 and issued by Coastal Community Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. RHF, RHY, RHC and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC and RHS are not banks. Securities products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. Cryptocurrencies held in RHC accounts are not covered by FDIC or SIPC protections and are not regulated by FINRA. RHY products are not subject to SIPC coverage but funds held in the Robinhood Money spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement).

Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.

Commission-free trading of stocks, ETFs and options refers to $0 commissions for Robinhood Financial self-directed individual cash or margin brokerage accounts that trade U.S. listed securities and certain OTC securities electronically. Keep in mind, other fees such as trading (non-commission) fees, Gold subscription fees, wire transfer fees, and paper statement fees may apply to your brokerage account. Please see Robinhood Financial's Fee Schedule to learn more.

© 2024 Robinhood. All rights reserved.