Taxes and forms | Robinhood

Taxes and forms

What to expect this year?

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 18, 2025.
  • Your 1099s will be combined into a single PDF under Robinhood Markets, Inc. It’ll include your Form 1099s for Robinhood Securities, Robinhood Crypto, Robinhood Derivatives, and Robinhood Money, as applicable.
  • For Robinhood Retirement, if applicable, your Form 1099-R will be available by January 31, 2025 and your Form 5498 will be available by May 31, 2025.
  • CSV transaction files for all your 2024 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.
  • Your 1099s will show aggregate trade information to help reduce the size of your forms. This format will 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.

What’s new this year?

  • Robinhood event contract payments will be reported as Miscellaneous income on Form 1099. Keep in mind, settlement payments from event contracts that you receive in 2025 will be reported for the 2025 tax year.
  • Index options will be reported under Section 1256 Contracts.
  • If you have joint investing account activity that requires a 1099, it’ll be provided separately from the consolidated 1099 for your individual account.
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, 2025 for the 2024 tax year, and the following 2024 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.

2024 tax formsDue dates in 2025
Form 1099-RJanuary 31
Consolidated 1099 from Robinhood Markets, Inc. (including Form 1099-B with Section 1256)February 18
Form 480.6 seriesMarch 7
Form 1042-SMarch 17
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-B?

Form 1099-B shows gain and loss data from selling securities. It aggregates information for the same security based on key criteria, where applicable. For more details, check out How to read your 1099-B.

What’s Section 1256?

Section 1256 on Form 1099-B is also known as the “Annual Report of Net Gain or Loss From Section 1256 Contracts.” This section is used by the IRS to report gains or losses from certain types of investments, including regulated futures contracts and non-equity options. These contracts are typically subject to what is also known as "mark-to-market" rules, which mean they’re treated as if they were sold at fair market value on the last business day of the tax year. As a result, any gains or losses are recognized for tax purposes, even if the contract is not actually sold.

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 and you won’t 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 during this tax year, or you were a resident of Puerto Rico this year for 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

Robinhood doesn't provide tax advice. For specific questions, consult a tax professional.

Robinhood isn’t affiliated with and doesn’t endorse the listed third-party services, applications, or their respective sponsors. Robinhood isn’t responsible for the content of any third-party service or the collection or use of information by the third-party service regarding their customers or members.

If you have questions about using a third-party service that isn’t related to a login notification from Robinhood, contact the service company’s support team.

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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 an account with Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840).Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Please review a list of RHC's licenses for more information. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected.

The Robinhood spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Please review a list of our licenses for more information.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

Robinhood Gold Card is subject to credit approval and underwriting. Robinhood Gold Card is offered by Robinhood Credit, Inc., and is issued by Coastal Community Bank, pursuant to a license from Visa U.S.A. Inc. Robinhood Credit, Inc. (“RCT”), is a financial technology company, not a bank.

Robinhood Gold is a subscription-based membership program of premium services offered through Robinhood Gold, LLC (“RHG”).

RHF, RHY, RHC, RCT, RHG, and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC, RCT, RHG, and RHS are not banks. Investing products offered by RHF are not FDIC insured and involve risk, including possible loss of principal.

RHY is not a member of FINRA, and products are not subject to SIPC protection, but funds held in the Robinhood 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.

The risk of loss in trading futures can be substantial. Carefully consider if it’s appropriate for you in light of your financial circumstances. Please read the Futures Risk Disclosure Statement prior to trading futures products. Futures accounts are not protected by the Securities Investor Protection Corporation (SIPC) and are not Federal Deposit Insurance Corporation (FDIC) insured. Prior to trading virtual currency Futures products, please review the NFA Investor Advisory & CFTC Advisory providing more information on these potentially significant risks. Futures trading and options on futures trading are offered by Robinhood Derivatives, LLC (“RHD”), a registered futures commission merchant with the Commodity Futures Trading Commission (CFTC) and Member of National Futures Association (NFA) (NFA ID 0424278).

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Robinhood, 85 Willow Road, Menlo Park, CA 94025.© 2025 Robinhood. All rights reserved.
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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 an account with Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840).Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Please review a list of RHC's licenses for more information. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected.

The Robinhood spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Please review a list of our licenses for more information.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

Robinhood Gold Card is subject to credit approval and underwriting. Robinhood Gold Card is offered by Robinhood Credit, Inc., and is issued by Coastal Community Bank, pursuant to a license from Visa U.S.A. Inc. Robinhood Credit, Inc. (“RCT”), is a financial technology company, not a bank.

Robinhood Gold is a subscription-based membership program of premium services offered through Robinhood Gold, LLC (“RHG”).

RHF, RHY, RHC, RCT, RHG, and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC, RCT, RHG, and RHS are not banks. Investing products offered by RHF are not FDIC insured and involve risk, including possible loss of principal.

RHY is not a member of FINRA, and products are not subject to SIPC protection, but funds held in the Robinhood 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.

The risk of loss in trading futures can be substantial. Carefully consider if it’s appropriate for you in light of your financial circumstances. Please read the Futures Risk Disclosure Statement prior to trading futures products. Futures accounts are not protected by the Securities Investor Protection Corporation (SIPC) and are not Federal Deposit Insurance Corporation (FDIC) insured. Prior to trading virtual currency Futures products, please review the NFA Investor Advisory & CFTC Advisory providing more information on these potentially significant risks. Futures trading and options on futures trading are offered by Robinhood Derivatives, LLC (“RHD”), a registered futures commission merchant with the Commodity Futures Trading Commission (CFTC) and Member of National Futures Association (NFA) (NFA ID 0424278).

RO 3924940

Robinhood, 85 Willow Road, Menlo Park, CA 94025.© 2025 Robinhood. All rights reserved.