www.robinhood.com
At Form8949.com, we help you minimize the time and expense of complying with the tax reporting requirements related to your stock trading activity.
If you use a Tax Pro, you can save your tax preparer time and save tax preparation fees. If you use tax software, we can help you either (1) import your data into H&R Block, TaxAct, or TurboTax or (2) generate a PDF file for attachment to your return.
All for as little as $12.00.
Realized Gain CSV Download
Robinhood Crypto provides a downloadable CSV file containing your realized gain information.
- Open Robinhood app (on computer)
- Click on "Account" in top-right corner of page to open the menu
- Scroll down to and click "Account"
- Find, below your account name, & click on "Documents"
- "Tax Documents" should be on top on list
- Hover over "(year) - Robinhood Crypto 1099" to make sure you get "Download CSV" prompt, as opposed to "Download PDF"
- Click and save the CSV file to your computer
1099-B Portable Document Format (PDF)
You may download your Robinhood Crypto Form 1099-BPDFfile and submit it for processing.
If you have additional or newer information regardingRobinhood Crypto downloadable files,please email us atsupport@form8949.com.
FAQs
How to fill out Form 8949 for cryptocurrency
- Export all cryptocurrency transactions. ...
- Collect information and calculate gain/loss. ...
- Categorize transactions into short-term and long-term disposals. ...
- Select the correct checkbox. ...
- Report your disposals on Form 8949. ...
- Report your net gain or loss on Schedule D.
Do I need an 8949 for Robinhood? ›
If you've sold any stocks during the tax year, it will be reported on a Form 1099-B which you will receive from Robinhood. You need to transfer the information from your 1099-B to a Form 8949. Form 8949 is used to document sales of stocks.
How do I fill out a Schedule D for cryptocurrency? ›
Provide the details of your crypto gain/loss on Form 8949
On Schedule D, you'll subtract your cost basis from the total proceeds to arrive at your total capital gain or loss. From there, Schedule D will determine how much tax you owe or what kind of deduction you receive.
Can Schedule D be completed without form 8949? ›
Form 8949 isn't required for certain transactions. You may be able to aggregate those transactions and report them directly on either line 1a (for short-term transactions) or line 8a (for long-term transactions) of Schedule D.
Do I have to list every crypto transaction on form 8949? ›
While Coinbase One subscribers can get a pre-filled Form 8949, this form only includes transactions from Coinbase — not your other crypto wallets and exchanges. All of your disposals of cryptocurrency and other capital assets should be reported on Form 8949.
How to declare crypto on tax return? ›
Add the value of these under the heading 'Other income' in your tax return. Make sure to do this in the financial year you received it. When you later sell the crypto you earned through staking or airdrops, the amount you reported as income will be your cost base for calculating CGT.
Do I have to report Robinhood crypto on my taxes? ›
Currently, gross proceeds shown in the Robinhood Crypto 1099-B and rewards shown in the Robinhood Crypto 1099-MISC (if greater than $600) are reported to the IRS.
What is the difference between form 8949 and Schedule D? ›
Use Form 8949 to reconcile amounts that were reported to you and the IRS on Form 1099-B or 1099-S (or substitute statement) with the amounts you report on your return. The subtotals from this form will then be carried over to Schedule D (Form 1040), where gain or loss will be calculated in aggregate.
Do I have to report every stock transaction on form 8949? ›
If you sold some stocks this year, you're probably aware that you will need to include some information on your tax return. What you may not realize, is that you'll need to report every transaction on an IRS Form 8949 in addition to a Schedule D. To find out more about form 8949, watch this video.
Is form 8949 mandatory? ›
If you must report capital gains and losses from an investment in the past year, you'll need to file Form 8949. This is an IRS form used by individuals, partnerships, and corporations to report both short- and long-term capital gains and losses from investment exchanges and sales.
US taxpayers must report any profits or losses from trading cryptocurrency and any income earned from activities like mining or staking on tax return forms, such as Form 1040 or 8949. Not reporting can result in fines and penalties as high as $100,000 or more severe consequences, including up to five years in prison.
How to complete form 8949? ›
Anyone who sells or exchanges a capital asset such as stock, land, or artwork must complete Form 8949. Both short-term and long-term transactions are documented on the form. Details about the transaction must be filled in including the date of acquisition and disposition, the proceeds of the sale, and the gain or loss.
Can I bypass form 8949? ›
Instead of completing Form 8949, you can submit a substitute statement. Format your substitute statement similarly to the Form 8949 itself. First, create or get the substitute statements you want to attach to the return.
How to report crypto on taxes? ›
Any cryptocurrency capital gains, capital losses, and taxable income need to be reported on your tax return. You can report your capital gains and losses on Form 8949 and your income on Form 1040 Schedule 1 or Schedule C depending on your situation.
Why are capital losses limited to $3,000? ›
The $3,000 loss limit is the amount that can be offset against ordinary income. Above $3,000 is where things can get complicated.
How do I report crypto income to the IRS? ›
You must report ordinary income from virtual currency on Form 1040, U.S. Individual Tax Return, Form 1040-SS, Form 1040-NR, or Form 1040, Schedule 1, Additional Income and Adjustments to Income PDF, as applicable.
Do I need to report crypto if I didn't sell? ›
If you buy Bitcoin, there's nothing to report until you sell. If you earned crypto through staking, a hard fork, an airdrop or via any method other than buying it, you'll likely need to report it, even if you haven't sold it.
Do I need to list all transactions on form 8949? ›
You don't need to complete and file an entire copy of Form 8949 (Parts I and II) if you can check a single box to describe all your transactions. In that case, complete and file either Part I or II and check the box that describes the transactions.
How to report crypto cost basis? ›
Form 8949 tracks the Sales and Other Dispositions of Capital Assets. In other words, Form 8949 tracks capital gains and losses for assets such as cryptocurrency. On Form 8949, a taxpayer details the number of units acquired, their dates of acquisition and disposal, cost basis, and any capital gain or loss.