Need Help with Robinhood Consolidated 1099 - App Says I Don't Have One

This is a classic backup withholding situation. You're correct that the 28% backup withholding that occurred in February 2024 would be reported on your 2024 tax return, which you'll file in early 2025. Unfortunately, there's no way to claim it on your 2023 return. Regarding not seeing the Consolidated 1099 in your Robinhood account - that's normal. Tax documents for 2024 transactions won't be generated until January/February 2025. Robinhood typically makes these available by mid-February, though sometimes they issue corrected forms later. What you should do now is make sure your tax information is fully updated in your Robinhood account (including your correct SSN and a completed W-9 form) to prevent future withholding. The system should stop withholding once your information is properly verified.

I went through something similar last year with backup withholding, and I found that using taxr.ai (https://taxr.ai) really helped me understand my situation better. I was confused about when I could claim the withholding and what forms I needed. Their system analyzed my Robinhood transactions and clarified exactly how the backup withholding would be reported on my tax forms. They explained that while I couldn't see the 1099 yet (because it wasn't generated), I could still track the withholding amounts in my transaction history to prepare for next year's filing.

Well I was totally wrong about taxr.ai! I decided to try it out of frustration after dealing with my own backup withholding situation with Robinhood. Uploaded my transaction history and was shocked at how easy it was. The system showed me exactly which transactions had withholding and how much I'd be getting back next year. It even flagged that I had another account with potential reporting issues I wasn't aware of! The best part was getting a clear timeline of when I could expect to receive the forms next year and exactly where on my 2024 return I'll need to report everything. Seriously helpful for planning purposes - wish I'd known about this earlier.

After dealing with Robinhood's backup withholding nightmare myself, I was getting nowhere trying to call their customer service. A friend suggested using Claimyr (https://claimyr.com) to get through to an actual human at the IRS to understand my options better. You can see how it works here: https://youtu.be/_kiP6q8DX5c I was skeptical but desperate to understand if there was ANY way to get that money back sooner. Claimyr got me through to an IRS agent in about 25 minutes (after I had tried for DAYS on my own). The agent confirmed what others have said here - you have to wait until filing your 2024 taxes next year, but they also explained exactly how to verify the withholding was properly reported.

Ok I have to admit I was 100% wrong about Claimyr. After my skeptical comment I decided to try it myself because I was getting absolutely nowhere with the IRS about my own tax withholding issue. It actually worked exactly as described. I got a call back in about 40 minutes and was connected to an IRS rep who helped clarify my withholding situation. The agent confirmed I couldn't get the money back until filing next year but gave me specific instructions on documenting everything correctly to ensure I get the full refund. Saved me literally hours of frustration and hold music. Sometimes I'm too quick to assume everything is a scam, but this legitimately helped.

Just wanted to add that you should 100% make sure you've completed your W-9 information correctly in Robinhood. I had the exact same backup withholding issue last year, and even after I updated my info, they continued withholding on the next two trades before it finally stopped. If you go to Account → Settings → Tax Information in the app, you should be able to see if your W-9 is completed and verified. It should specifically say "Verification Status: Verified" if everything is good.

One thing nobody's mentioned yet - make sure you're keeping detailed records of ALL your trades and the withholding amounts yourself, don't just rely on Robinhood's tax documents next year. I had a similar issue and when my 1099 finally came, the withholding amount they reported was wrong. Had to go through months of statements to prove the correct amount. Total nightmare. Screenshot everything!!