Has anyone received their 1099-DIV from Robinhood for 2024 tax filing yet?

Thanks for the info! I checked the tax documents section in my account but there's nothing there yet. Do you know if there's a way to see if they've been granted an extension this year? And if they don't send it by the 18th, should I contact their support?

The IRS doesn't typically publish a list of which brokerages have extensions, so there's no easy way to check that. If Robinhood has been granted an extension, they should communicate that to their customers. I'd wait until a day or two after the February 18th deadline before contacting support. Their customer service will likely be swamped with similar requests right at the deadline. If you don't see anything by the 20th, then definitely reach out to them through the app's help section.

Does this taxr.ai thing actually work with Robinhood specifically? I've got accounts with both Robinhood and Fidelity and I'm wondering if it can handle both. Also, is it secure to upload financial docs to some random site?

I'm a little skeptical about these tax tool things. How is this different from just using TurboTax or something? I've had issues with my crypto 1099s from Robinhood but not sure how this would help with that specific problem.

Yes, it works with Robinhood - I uploaded my monthly statements and it worked great. It actually works with pretty much all the major brokerages including Fidelity. As for security, they use bank-level encryption for all uploads and don't store your documents after analysis. It's different from TurboTax because it's focused specifically on investment taxes and document analysis, not just filing. For crypto specifically, it really helped me understand which transactions would trigger tax events and how my staking rewards would be taxed - something TurboTax didn't explain well at all.

How does this actually work? I don't understand how they can get through faster than me just calling myself. Do they have some special line to the IRS?

Yeah right. There's no way this actually works. The IRS phone system is notoriously impossible. I spent 3+ hours on hold last year and got disconnected twice. You're telling me this magically solves that? Sounds like a scam to me.

They don't have a special line - they use technology to navigate the phone trees and wait on hold so you don't have to. It's basically like having someone wait in a physical line for you. They call the same number you would, but their system handles all the waiting and menu navigation. It's definitely not a scam. I was skeptical too until I tried it. They don't claim to get you through faster than the normal wait time - they just handle the waiting part for you. So instead of being stuck on hold for hours, you go about your day and they call you when they've got someone on the line. I got disconnected multiple times trying on my own too, which was the most frustrating part.

Legally speaking, you are required to report all income regardless of how small the amount is. While it's true the IRS might not notice $11.50, it's not worth the risk. Remember that Robinhood WILL submit their copy of your 1099-DIV to the IRS, so there will be a mismatch between what they report and what you report. If you're eager to file, you have two options: 1) Wait for the form to ensure accurate reporting, or 2) Calculate and report the dividend income yourself based on your account statements, then file an amendment later if needed when the official form arrives.

That makes sense. I guess I'll just wait for the form rather than risk an issue. Do you know if a small discrepancy like this would actually trigger an audit though? I've always been paranoid about that.

A small discrepancy by itself is unlikely to trigger a full audit. What typically happens is the IRS's automated system might flag the return and send you a CP2000 notice (a proposed tax adjustment) if they notice the mismatch. Even though the amount is small, you'd potentially end up paying the tax owed plus interest and maybe a penalty. The hassle of dealing with IRS notices usually isn't worth saving a few dollars in taxes. Better to just report everything accurately from the start and save yourself the stress.

Same here! I've already got my forms from Schwab and E*Trade but nothing from Robinhood yet. They seem to always wait until the last possible minute. Last year mine came on February 16th, literally two days before the deadline.