Anyone got their Robinhood 1099 tax forms yet? Are they really waiting until Feb 15th deadline to release?

Thanks for this info! Do you know if there's any way to get a rough estimate of what I'll owe before the official forms come in? Like can I just use the year-end statement or something? Also, if Robinhood sends a corrected form later, do I have to amend my return?

You can definitely create a rough estimate using your year-end statement or by downloading your transaction history from the app. Just be aware this is unofficial and could miss some details like wash sales or specific dividend classifications. If Robinhood sends a corrected form after you've filed, it depends on how significant the changes are. Minor differences might not require an amendment, but substantial changes could. The IRS generally expects you to file an amended return if there's a change that affects your tax liability. If you're using tax software, many make it relatively easy to file an amendment if needed.

That sounds useful! I'm always paranoid about messing up the reporting of my trades. Does it work if you have multiple brokerages? I use both Robinhood and Webull and reconciling everything is a nightmare.

I'm skeptical about these kinds of services. How do you know they're not just taking your financial data to sell or something? And does it actually find stuff that TurboTax wouldn't catch?

Yes, it absolutely works with multiple brokerages! You can upload forms from different platforms, and it will analyze everything together. It's especially helpful for identifying wash sales across different platforms, which is something easy to miss. The service is really secure - they use bank-level encryption and don't store your actual documents after analysis. And yes, it catches things tax software misses because TurboTax just inputs what's on your forms without checking if those forms are accurate. This actually verifies the accuracy of what the brokerages are reporting against your actual trading history.

How does this actually work? I'm confused how a third party service can get you through to Robinhood faster than just calling them directly?

This sounds like a scam to me. Why would I pay someone else just to call customer service? They probably just use the same phone number we all have access to.

They basically use technology that navigates phone trees and waits on hold for you. When they reach a live person, they call you and connect you directly. It's not that they have special access - they're just automating the painful waiting part. I was skeptical too, but it genuinely worked. I had been trying for days to get through normal channels. I didn't want to pay extra just to talk to customer service either, but when you calculate the value of your time (45+ minutes on hold multiple times), it made sense to me. Plus I needed answers about my tax forms asap.

Do you happen to know if crypto transactions are on a different timeline? I did some ETH trading on Robinhood and wondering if those forms come separately.

From what I understand, crypto should be included on your 1099-B if you sold any during the year. Mine had both my stock trades and my small amount of Bitcoin trading all on the same form. I don't think they issue separate forms for crypto versus stocks, but the forms might come later if you did a lot of crypto trading since those transactions can be more complex to report.

I had over 300 trades and got mine yesterday. Check if you did any weird stuff like options or penny stocks. My buddy trades options and hasn't gotten his forms yet, while I mostly stuck to regular stocks and ETFs.

Thanks for the info. I did mess around with some options trading last summer, so maybe that's what's causing the delay. Guess I'll just have to tell my tax guy to wait. So frustrating!