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Aisha Mohammed

Robinhood not sending me 1042S form for trading activity - what to do?

I did some light trading on Robinhood last year and made about $19 from selling stocks plus got a free promotional stock. I was expecting to receive a 1042S form since I'm filing as a non-resident, but when I contacted Robinhood support they told me they won't issue a 1042S because I didn't receive any interest or dividends. Only capital gains from stock sales. I'm really confused about how to report this on my 1040NR. I'm using Sprintax to prepare my return but it's asking for info from the 1042S that I don't have. Do I still need to report these small gains somewhere? Has anyone dealt with this situation before? I don't want to mess up my taxes over $19 but also don't want to skip reporting income.

Robinhood is actually correct here. Form 1042S is specifically for reporting US-source income paid to foreign persons that's subject to withholding - typically things like dividends, interest, royalties, etc. Capital gains from selling stocks aren't subject to this withholding regime for non-residents, which is why you didn't receive a 1042S. For your situation with Sprintax, you should still report the capital gains on your 1040NR. Look for the section where you can report capital gains - you'll need to fill out Schedule D and possibly Form 8949 to report your stock sales. Since it's just $19, it won't impact your tax situation much, but you should still report it for compliance purposes. The free stock you received would be considered income in the year you received it (at its fair market value when granted), and then any gain/loss when you sell it would be a capital gain/loss.

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Thank you for the clarification. So if I'm understanding correctly, I need to enter the stock sales on Schedule D even without a 1042S form? Does Sprintax support this type of entry? And for the free stock I received but haven't sold yet, do I still need to report that somewhere this year?

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You're exactly right - you'll need to enter those stock sales on Schedule D even without a 1042S. Sprintax definitely supports this type of entry - look for the section about capital gains/losses or investment income, and you can manually enter your transactions there. For the free promotional stock you received but haven't sold yet, you still need to report the value of that stock as income in the year you received it (as a promotional gift/prize). Its value on the day you received it is considered income. When you eventually sell it in the future, you'll only pay capital gains tax on any appreciation since you received it.

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I had this exact same issue when filing my taxes using Sprintax! I was so confused about where to report my trading gains without having an official form. After hours of frustration, I found this AI tool called taxr.ai (https://taxr.ai) that completely saved me. It analyzed my Robinhood monthly statements and automatically extracted all the needed information to properly report everything. The tool showed me exactly where to enter the capital gains in Sprintax even without the 1042S form. It also explained that the free stock needed to be reported as miscellaneous income at the value when received. Honestly would have missed that completely without help.

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How does this AI tool work with Sprintax specifically? I'm in a similar situation but have transactions across multiple platforms (Robinhood and Webull). Does it help with figuring out the cost basis too? My biggest headache is tracking all the buy/sell dates.

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I'm skeptical about using AI for tax stuff. Couldn't you just contact Sprintax support directly? Did Robinhood at least provide you with an annual statement showing your transactions that you could use instead of the 1042S?

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The tool works alongside Sprintax - you upload your trading documents from any platform (Robinhood, Webull, whatever you have), and it extracts all the important information. Then it gives you guidance on exactly where to enter that data in Sprintax. It definitely handles multiple platforms and consolidates everything. It absolutely helps with cost basis tracking. That was actually my favorite part - it organized all my chaotic buy/sell dates and calculated the exact gains/losses with proper dates. Saved me hours of spreadsheet work.

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Update: I tried that taxr.ai tool that was mentioned and it was actually super helpful! I was worried it wouldn't work for my situation since I had both Robinhood and Webull accounts with no tax forms, but it processed my monthly statements from both platforms. The tool showed me exactly what to report as capital gains on Schedule D and where to put the free stock promotion as "Other Income" in Sprintax. It even flagged a wash sale I had no idea about! Definitely recommend it if you're in the same boat with missing 1042S forms but still need to report trading activity on your 1040NR.

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For anyone still struggling with this issue - another option is to use Claimyr (https://claimyr.com) to actually get through to the IRS and ask directly. I spent WEEKS trying to figure out how to report some crypto and stock trades without proper forms, and kept getting nowhere with the automated IRS phone system. Claimyr got me connected to a live IRS agent in under 15 minutes when I'd been trying for days. The agent confirmed exactly what I needed to do with my Robinhood trades and walked me through the right way to report everything on my 1040NR. You can see how it works here: https://youtu.be/_kiP6q8DX5c. Completely worth it for the peace of mind knowing my return is correct.

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Does this actually work? I've literally spent hours on hold with the IRS and eventually get disconnected every time. How much does this service cost? And did the IRS agent actually know how to handle non-resident tax situations? They're usually clueless about 1040NR forms in my experience.

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This sounds like a scam to me. How can some random service get you through to the IRS faster than calling directly? The IRS phone system is intentionally designed to manage call volume. I highly doubt this actually works... probably just charges you money to keep you on hold just like if you called yourself.

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Yes, it absolutely works! The service uses technology to navigate the IRS phone tree and secure your place in line without you having to wait on hold. When an agent is about to be connected, you get a call back to join the conversation. The IRS agent I spoke with was surprisingly knowledgeable about non-resident situations. I specifically asked about reporting capital gains on a 1040NR without a 1042S form, and they confirmed exactly what to do. They even emailed me some guidance documents afterward that were super helpful.

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I'm back and need to publicly eat my words about Claimyr being a scam. After dismissing it, I was still stuck with my tax issue and desperate, so I tried it anyway. I'm genuinely shocked - it actually worked exactly as described. Got connected to an IRS agent in about 20 minutes after trying unsuccessfully for weeks on my own. The agent confirmed that for non-resident aliens, capital gains from stock trading should still be reported on Schedule D and Form 8949 with the 1040NR, even without a 1042S. They also explained that the free stock is considered miscellaneous income in the year received. This matches what others here have said, but getting it straight from the IRS gave me the confidence to file.

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Has anyone tried just downloading their annual statement from Robinhood? They may not send a 1042S but they definitely provide a year-end summary of all your transactions. I think it's under Account → Statements → Annual. That should have all the info you need for Sprintax.

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The annual statement doesn't always have everything organized in a tax-friendly format though. I tried using mine and still had to manually calculate lots of stuff. Plus Robinhood's cost basis reporting can be weird if you've done any partial sells or have fractional shares.

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That's a fair point. The annual statement isn't perfectly formatted for tax purposes, but it does contain all the raw data you need. For fractional shares and partial sells, you definitely need to do some extra calculations. I found that exporting the data to a spreadsheet first and organizing it by purchase date helped a lot. Then you can properly track each lot and apply the correct cost basis when reporting partial sells. It takes some work but it's doable even without specialized software.

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Just a quick tip - if your total capital gains are only $19, you might still need to report it, but it's not going to meaningfully impact your tax bill. The IRS has bigger fish to fry than chasing down someone for potentially 2-3 dollars in taxes. Don't stress too much about getting this perfect - just make a good faith effort to report it correctly using the advice others have given about Schedule D, and you'll be fine!

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This is terrible advice!!! Even small amounts need to be reported correctly. The issue isn't about the tax amount, it's about compliance. Especially for non-residents filing 1040NR, any errors can cause problems with visa renewals or future immigration applications. Not worth the risk over a small amount.

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I completely agree with Fatima - you absolutely need to report all income correctly, especially as a non-resident. The IRS expects full compliance regardless of the amount. That said, for your $19 in capital gains, here's what you need to do: Report the stock sales on Schedule D (and Form 8949 if needed) attached to your 1040NR. You don't need a 1042S for this - that form is only for income subject to withholding like dividends and interest, not capital gains. For the free promotional stock, report its fair market value on the day you received it as "Other Income" on your 1040NR. When you eventually sell that stock, you'll report any gain/loss based on that original value as your cost basis. Sprintax should have sections for both capital gains and other income where you can manually enter this information. The key is having accurate records of your transaction dates, purchase prices, and sale prices. Your Robinhood account statements should provide all this data even without a formal tax document.

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This is exactly the advice I was looking for! Thank you for breaking it down so clearly. I've been overthinking this whole situation. Just to confirm - when I report the free stock as "Other Income," I need to figure out what it was worth on the day I received it, not when I might sell it later? And is there a specific line on the 1040NR form where this goes, or does Sprintax guide you to the right section?

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