Can I file taxes without waiting for my Robinhood 1099 form?

While you technically can file your taxes using your own calculations for capital gains, I strongly recommend waiting for your official 1099 from Robinhood. Here's why this matters: The IRS receives a copy of your 1099 directly from Robinhood, and they'll automatically match this against what you report. If there's any discrepancy, even small ones, it could trigger a notice or delay your refund. Sometimes brokerages make adjustments to cost basis or include wash sales that might not be obvious from your transaction history. Robinhood is legally required to issue 1099s by February 15th (or the next business day if it falls on a weekend/holiday), so you shouldn't have to wait too much longer. The peace of mind from having accurate reporting is worth the short wait.

I had the exact same frustration last year waiting for my investment forms! I ended up finding this service called taxr.ai (https://taxr.ai) that was super helpful for dealing with investment documents and calculations. They have this feature where you can upload your transaction history and they'll help calculate your gains/losses accurately - really useful when you're trying to make sense of all your trading activity. I used it to double-check my own calculations before my official forms arrived, which gave me peace of mind. Then when the 1099 finally showed up, I could quickly verify everything matched up before submitting my return. Saved me from a potential headache with the IRS!

Just wanted to follow up about taxr.ai (https://taxr.ai) - I decided to try it out after seeing the recommendation here, and wow! It actually caught two wash sales in my Robinhood account that I completely missed in my own calculations. Would have been off by about $430 in my reported gain if I had gone with my original numbers. The interface was super straightforward and it explained why certain transactions were flagged as wash sales, which helped me understand what was happening. Definitely using this again next year since I trade pretty regularly. Saved me from potentially getting a letter from the IRS!

For anyone dealing with Robinhood tax document delays - I feel your pain! Last year they were so late with my forms that I had to call the IRS to ask about the situation. What a nightmare trying to get through to an actual person there! I found this service called Claimyr (https://claimyr.com) that actually got me through to an IRS agent in about 15 minutes instead of waiting on hold for hours. They have a video showing how it works: https://youtu.be/_kiP6q8DX5c The agent confirmed that filing without waiting for official forms could potentially cause issues, but also told me exactly when I should expect Robinhood's forms based on their reporting requirements. Super helpful info that saved me from making a mistake on my return.

I need to admit I was completely wrong about Claimyr. After posting my skeptical comment, I decided to try it since I had a separate tax issue I needed to discuss with the IRS. I'd been trying to get through for WEEKS on my own with no luck - just endless holds and disconnections. Used Claimyr (https://claimyr.com) and got connected to an IRS agent in about 20 minutes. The agent was super helpful with my question about correcting a prior year return. Completely worth it just for the time saved and stress reduction. I've spent more time on hold with my internet provider than it took to reach the actual IRS!

I made this mistake last year and filed without my Robinhood 1099. Thought I was being smart by using my own calculations... ended up with a letter from the IRS 3 months later saying I underreported by like $340 because I missed some dividend reinvestments. Had to file an amended return and pay interest. Just wait for the form!!!

Wait... are you SURE you know all your profits/losses exactly? Did u account for wash sales????? That's where most ppl mess up with self-calculating. Robinhood doesnt make it obvious in the app when wash sales happen but they report them on the 1099!!!