You may experience a number of problems when trying to import Robinhood tax documents into TurboTax, namely crypto 1099 forms. One issue results in the software warning you that your Robinhood tax document ID is missing.
Robinhood lets you trade stocks, ETFs, options, and cryptocurrencies without incurring trading fees, and supports fractional share purchases, allowing you to start investing with as little as $1. You can also access pre-IPO stocks through Robinhood, as well as credit with a margin account to maximize your returns.
How to access Robinhood tax documents
You need to report your Robinhood transactions to the IRS. The broker issues 1099 forms to help you with tax preparation (separately for securities and crypto transactions). The tax documents you receive from Robinhood detail the money you made on the platform from selling stocks or cryptocurrencies and dividends earned. The form will also show disallowed wash-sale losses.
To access your Robinhood tax document, go to "Account" in the app, navigate to "Statements and History," and tap "Tax Documents." If your stock and cryptocurrency transactions resulted in taxable events, you’ll see a 1099 form from Robinhood’s securities division and another 1099 from the broker’s crypto division.
Even if your Robinhood account is closed, you can still access 1099 forms from the broker for your tax preparation. All you have to do is download the app and log in with the email address and password you used to access the account before. Go to "Account," navigate to "Investing," and you’ll see "Tax Documents."
If you experience a problem accessing your tax documents, Robinhood recommends logging out and back into the app. If the problem persists, turn your phone on and off and try again. You may need to uninstall and reinstall the app or upgrade to the latest version.
What to do if your Robinhood tax document ID is missing
The 1099 forms that Robinhood sends you contain the details you need to import the documents into TurboTax, such as your account number and tax document ID. When importing Robinhood securities transactions into the tax software, you need to go to the “Stocks, Mutual Funds, Bonds, Other” screen. You’ll need to enter Robinhood in the bank name field. From there, you’ll need to enter your account number and the document ID from the 1099 form.
The account number is a 9-digit number, and the document ID is an 11-character alphanumeric code. They're both displayed on the top center of the 1099 form.
When uploading Robinhood crypto transactions to TurboTax, you won’t need the document ID. Instead, you’ll need to upload the CSV file that comes with the crypto 1099 form into the tax software. You get to the upload point by navigating to the “Wages and Income” screen in TurboTax and selecting “Cryptocurrency.”
Finally, if you’re missing your document ID in Robinhood securities 1099, you may need to check if you have a revised form. If your personal information has recently been updated or cost basis of your investments changed, Robinhood may issue an updated tax document.
An error in the initially issued document may also result in the broker sending you a corrected form to fix the missing document ID issue. If you still can’t see the document ID or there's another missing detail, you may need to contact the broker.