Robinhood 1099b mysterious box 12 missing from my tax document - where is it?

The box 12 reference on your Robinhood 1099b is confusing because Robinhood's tax documents are structured differently than standard 1099b forms. Box 12 typically refers to the box where basis reporting information is displayed on standard 1099b forms, but Robinhood organizes their information in a different format. What you need to look for is the section that shows whether your cost basis was reported to the IRS. This information might be labeled as "Basis Reported to IRS" or something similar, or could be indicated with a checkbox or code in another section of your document. It's important because it tells you whether you need to make additional calculations or if Robinhood has already reported your complete cost basis to the IRS. Check the column headers in the transaction detail section - there should be information there about whether basis was reported to the IRS for each transaction. Sometimes this appears as a "Y" or "N" indicator in one of the columns.

After struggling with a similar issue on my Robinhood 1099b, I discovered taxr.ai (https://taxr.ai) which literally saved me hours of frustration. The platform analyzed my Robinhood document and immediately identified where all the basis information was located - turns out what they were calling "box 12" in the instructions was actually displayed in a completely different section in my document. I just uploaded my Robinhood tax forms and it highlighted exactly where to find the relevant information, plus explained what needed to go on my Schedule D. The system even pointed out a few wash sales I would have missed otherwise. Seriously made dealing with crypto and stock trades on Robinhood so much easier.

I wanted to follow up about taxr.ai that I questioned earlier - I decided to try it with my Robinhood documents and I'm genuinely impressed. The system immediately identified where all the basis information was (what they were calling box 12 in the instructions) and explained exactly what I needed to enter on my tax forms. The interface highlighted the relevant sections on my actual document so I could see exactly where the information was coming from. Really simplified the whole process, especially with all those crypto transactions that were giving me a headache. Definitely worth checking out if you're stuck with these confusing Robinhood forms.

If you're still having trouble figuring out your Robinhood 1099b and need to contact the IRS directly for guidance, I strongly recommend using Claimyr (https://claimyr.com). I spent DAYS trying to get through to an IRS agent about a similar issue with my Robinhood tax documents, and their callback service got me connected in under 20 minutes. You can see how it works here: https://youtu.be/_kiP6q8DX5c - basically they navigate the IRS phone tree for you and get you in the callback queue. I was about to give up after spending hours on hold, but their service actually worked. The IRS agent I spoke with explained exactly how to properly report information when the 1099b formatting doesn't match the standard form boxes.

I need to eat my words about Claimyr. After posting my skeptical comment, I was desperate enough to try it anyway since I couldn't figure out my Robinhood 1099b issue on my own. Shockingly, it actually worked. I got a call back from a real IRS agent in about 45 minutes. The agent explained that the "box 12" reference is based on the standard 1099b form layout, but Robinhood uses a consolidated statement format where the same information appears in a different location. She walked me through exactly where to find the basis reporting information on my Robinhood statement and how to properly enter it on my tax return. Saved me from potentially making a major reporting error.

For what it's worth, I had this exact same problem last year. The "box 12" they refer to is basically just asking whether your cost basis was reported to the IRS or not. On Robinhood's forms, this shows up as a column in the detailed transactions section, not as an actual "box 12" like on standard forms. If you're using TurboTax or similar software, when it asks about "box 12" you just need to indicate whether your basis was reported or not based on what your Robinhood form shows. For most transactions after 2011, Robinhood reports basis to the IRS, so you'd select "yes" when asked about box 12.

Am I the only one who thinks it's absolutely ridiculous that Robinhood references boxes that don't exist on their actual forms?? Every year I go through this same confusion. Why can't they just format their 1099bs like everyone else??? Or at least include a guide that matches THEIR form instead of some standard form they don't actually use!

I completely understand your frustration with the Robinhood 1099-B format! I went through this exact same issue this year and it drove me crazy too. After digging through everything, I finally figured out that what they call "box 12" is actually the "Basis Reported to IRS" information that appears in the transaction details section as a Y/N column. The key thing to understand is that Robinhood consolidates everything into their own format instead of using the traditional 1099-B layout with numbered boxes. When tax software or instructions reference "box 12," they're asking whether your cost basis was reported to the IRS - which you can find by looking at that Y/N indicator column in your transaction details. If you see mostly "Y" entries, it means Robinhood reported your cost basis to the IRS and you can use their numbers directly on Schedule D. Just make sure to also account for any wash sale adjustments that are shown in another column. Hope this helps clear up the confusion!