Taxes and forms | Robinhood

Taxes and forms

Here’s what you can expect from us for this year’s tax season:

  • We’ll email you when your tax documents are ready for download by February 15, 2024.
  • Your 1099s will be combined into a single PDF under Robinhood Markets, Inc. It’ll include all your Form 1099s for Robinhood Securities, Robinhood Crypto, and Robinhood Money, as applicable.
  • For Robinhood Retirement, if applicable, your Form 1099-R will be available by January 31, 2024 and your Form 5498 will be available by May 31, 2024.
  • CSV transaction files for all your 2023 transactions for Robinhood Securities, Robinhood Crypto, and Robinhood spending accounts, will be available after your Consolidated 1099s.
  • Easier tax filing with a document ID. You’ll be able to use the document ID from your combined PDF to directly import your tax forms into tax service providers, such as TurboTax and H&R Block. You can find your document ID on the cover page of your Consolidated 1099s.

What’s new this year?

  • Your 1099s will show aggregate trade information to help reduce the size of your forms. The new format will still provide you with all the information you need to file your taxes.
  • For corrected Form 1099s, if applicable, you’ll get a Delta page that shows the differences from the previous version of the form 1099 you received.
Note

For answers to some of the most frequently asked questions about tax documents, how to access them, and about taxes relating to crypto trading, check out Tax documents FAQ and Crypto tax FAQ.

Tax timeline

Tax day is April 15, 2024 for the 2023 tax year, and the following 2023 tax forms will be available by the corresponding due dates. Keep in mind, you won’t get one or more of these tax forms if your account activity doesn’t need to be reported per IRS rules.

2023 tax formsDue dates in 2024
Form 1099-RJanuary 31
Consolidated 1099 from Robinhood Markets, Inc.February 15
Form 480.6 seriesMarch 6
Form 1042-SMarch 15
Form 5498May 31
Form 2439Varies

Tax forms

What's a 1099?

Form 1099 (aka as a Composite 1099 or a Consolidated 1099) shows your tax information such as the amount of money you received throughout the year from selling crypto and/or securities (including any realized losses that violated the IRS wash sale rule, if applicable), Dividends, Interest and Miscellaneous income.

Review How to read your 1099 and the following FAQ for more details.

What’s a 1099-C?

Form 1099-C is filed for a debtor who owed $600 or more of a debt that was canceled. Check out IRS Form 1099-C for details.

What’s a 1099-R?

Form 1099-R is required by the IRS for reportable distributions from one or more individual retirement accounts (IRAs), such as with Robinhood. This includes early distributions, even when it involves removing contributions from a Roth IRA.

What’s a 5498?

Form 5498 is required by the IRS for reportable contributions and reporting of the IRA Year End Fair Market Value. You’ll also receive a Form 5498 if you completed a Roth conversion or Rollover contributions during the tax year. If no contributions take place during the tax year, Robinhood will use the year end statement value for the 5498 filing with the IRS (You will not receive a Form 5498 in this case).

What’s a 1042-S?

Form 1042-S is an IRS tax form that is used to report US-sourced (payments from US companies) income paid out to non-US persons. These payments may be subject to NRA (nonresident alien) withholding. If you’re certified as a non-US person for tax purposes and receive US-sourced income, you may get a 1042-S. The Form 1042-S does not generally include gross proceeds or cost basis information.

What’s a 480.6?

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 in 2022, or you were a resident of Puerto Rico for 2022 tax purposes.

What’s a 2439?

Form 2439 is a notice to shareholders of undistributed long-term capital gains. You might get a Form 2439 if you owned shares in a specific Mutual Fund or Real Estate Investment Trust (REIT).

Can I get a K-1 form?

We don’t provide customers with Schedule K-1 forms. If you own shares in a limited partnership or trust, they'll provide the K-1 form for you. You can get your K-1 forms at taxpackagesupport.com, partnerdatalink.com, or through the applicable partnership websites.

Disclosures

TurboTax isn't an affiliate of Robinhood Markets, Inc. (“Robinhood”) or any of its subsidiaries. Robinhood makes no representations as to the accuracy or validity of TurboTax products.

Robinhood doesn't provide tax advice. For specific questions, you should 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.

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.

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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.