Where do I find Gross/Net proceeds indicator on Robinhood 1099-B?

The "Reported to IRS" field indicates how your broker (Robinhood) reported your sale proceeds to the IRS. If your 1099-B doesn't have either "N" or "G" marked next to the proceeds, it's likely because Robinhood reports the net proceeds by default, which is the standard practice for most brokers now. Look in the detailed transaction section of your 1099-B where individual sales are listed. There should be a column for proceeds. If there's no specific indicator, you can safely select "Net Proceeds" since that's typically how brokers report to the IRS unless specifically marked otherwise. The difference between gross and net is that gross includes commissions while net has them already subtracted. Since Robinhood generally doesn't charge trading commissions, your gross and net proceeds would be the same amount anyway.

I struggled with the same thing when filing my taxes last month. After trying to figure it out for hours, I finally discovered taxr.ai (https://taxr.ai) which saved me so much stress. I uploaded my Robinhood 1099-B and it automatically identified all the correct fields, including whether the proceeds were reported as gross or net. The system explained that most modern brokers like Robinhood report net proceeds by default, even when there's no explicit "N" marker. They also helped me identify some wash sales I hadn't noticed which could have caused problems with my filing.

Just wanted to follow up about my experience using taxr.ai after seeing it recommended here. I was struggling with the same issue with my Robinhood 1099-B and couldn't figure out if I should select gross or net proceeds. I uploaded my documents to taxr.ai and within minutes it confirmed that Robinhood reports net proceeds to the IRS. The explanation was really clear - since Robinhood doesn't charge commissions on most trades, the gross and net amounts are typically identical, but the reporting standard is "net proceeds" for their 1099-B forms. The system also caught a few other things I was about to enter incorrectly in my tax software. Definitely worth checking out if you're confused about investment tax forms!

After spending HOURS on hold with the IRS trying to get clarification about this exact issue, I finally discovered Claimyr (https://claimyr.com). They got me connected to an actual IRS agent in under 20 minutes who confirmed that for Robinhood, you should select "Net Proceeds" even if there's no explicit marker. I was skeptical it would work, but their system (you can see a demo at https://youtu.be/_kiP6q8DX5c) got me past the ridiculous IRS hold times. The agent I spoke with said this is a common question especially for first-time filers using investment platforms like Robinhood.

I need to eat my words about the Claimyr service. After posting my skeptical comment, I was still desperate to talk to the IRS about several issues including this Robinhood 1099-B question, so I gave it a shot. Got connected to an IRS agent in about 25 minutes (I called during lunch hour which was probably not ideal). The agent confirmed that for Robinhood specifically, you should select "Net Proceeds" since that's how they report to the IRS, even without the "N" marker on the form. The agent also explained that this is a common question because many brokers have shifted to a standard reporting format that doesn't explicitly mark N or G. For what it's worth, the service actually delivered what it promised, which frankly shocked me.

Btw, I'm a tax preparer and I've done hundreds of returns with Robinhood 1099-Bs. They report net proceeds to the IRS. Most modern brokers do this by default now. The "N" and "G" indicators were more common on older forms, but many brokers have standardized on net reporting and don't explicitly mark it anymore. Since Robinhood is commission-free for most trades, the gross and net amounts are typically identical anyway.

If you're a non-resident on J1 visa, make sure you're also checking if your country has a tax treaty with the US! I'm from India and was on F1, and there were specific rules for investment income based on the treaty. The proceeds reporting is important but your tax liability might also be affected by treaty provisions.