Taxes and forms | Robinhood (2024)

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All investing involves risk.

Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker-dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC). Cryptocurrency services are offered through Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). Review a list of RHC licenses for more information.The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Review a list of our licenses for more information. Credit card products are offered by Robinhood Credit, Inc. ("RCT") (NMLS ID: 1781911) and issued by Coastal Community Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Robinhood Gold is offered through Robinhood Gold, LLC (“RHG”) and is a subscription offering premium services available for a fee.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

RHF, RHY, RHC, RCT, RHG, and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC, RCT, RHG, and RHS are not banks. Products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. RHC isn’t a member of FINRA and accounts are not FDIC insured or protected by SIPC.

RHY is not a member of FINRA, and products are not subject to SIPC protection, but funds held in the Robinhood spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement).

Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.

Commission-free trading of stocks, ETFs and options refers to $0 commissions for Robinhood Financial self-directed individual cash or margin brokerage accounts that trade U.S. listed securities and certain OTC securities electronically. Keep in mind, other fees such as trading (non-commission) fees, Gold subscription fees, wire transfer fees, and paper statement fees may apply to your brokerage account. Please see Robinhood Financial's Fee Schedule to learn more.

Robinhood, 85 Willow Road, Menlo Park, CA 94025.© 2024 Robinhood. All rights reserved.

All investing involves risk.

Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker-dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC). Cryptocurrency services are offered through Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). Review a list of RHC licenses for more information.The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Review a list of our licenses for more information. Credit card products are offered by Robinhood Credit, Inc. ("RCT") (NMLS ID: 1781911) and issued by Coastal Community Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Robinhood Gold is offered through Robinhood Gold, LLC (“RHG”) and is a subscription offering premium services available for a fee.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

RHF, RHY, RHC, RCT, RHG, and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC, RCT, RHG, and RHS are not banks. Products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. RHC isn’t a member of FINRA and accounts are not FDIC insured or protected by SIPC.

RHY is not a member of FINRA, and products are not subject to SIPC protection, but funds held in the Robinhood spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement).

Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.

Commission-free trading of stocks, ETFs and options refers to $0 commissions for Robinhood Financial self-directed individual cash or margin brokerage accounts that trade U.S. listed securities and certain OTC securities electronically. Keep in mind, other fees such as trading (non-commission) fees, Gold subscription fees, wire transfer fees, and paper statement fees may apply to your brokerage account. Please see Robinhood Financial's Fee Schedule to learn more.

Robinhood, 85 Willow Road, Menlo Park, CA 94025.© 2024 Robinhood. All rights reserved.

Taxes and forms | Robinhood (2024)

FAQs

What are the 3 types of tax return forms? ›

There are three personal income tax forms — 1040, 1040A and 1040EZ — with each designed to get the appropriate amount of your money to the IRS. Differences in the forms, however, could cost you if you're not paying attention.

What are the 2 most commonly used tax forms? ›

The most common of these forms are:
  • Form W-2. It's filled out by your employer to document your earnings for the calendar year. ...
  • Form 1098. ...
  • Form 1099 series.
4 days ago

What tax forms do I need to file? ›

If you have wages, file Form 1040, U.S. Individual Income Tax Return. If you're a senior, you can file 1040-SR. If you have a business or side income, file Form 1040 with a Schedule C.

How do I find my tax forms? ›

Get the current filing year's forms, instructions, and publications for free from the IRS.
  1. Download them from IRS.gov.
  2. Order online and have them delivered by U.S. mail.
  3. Order by phone at 1-800-TAX-FORM (1-800-829-3676)
Jul 3, 2024

What is the difference between a W-2 and a 1040? ›

Understanding the difference between a 1040 and a W2 form is crucial for accurate and efficient tax filing. While a 1040 form is a comprehensive document that you fill out to report your income and calculate your tax liability, a W2 is a summary of your earnings and tax withholdings provided by your employer.

What is the best tax form to use? ›

The simplest IRS form is the Form 1040EZ. The 1040A covers several additional items not addressed by the EZ. And finally, the IRS Form 1040 should be used when itemizing deductions and reporting more complex investments and other income. Here are a few general guidelines on which form to use.

At what age is social security no longer taxed? ›

At what age is Social Security no longer taxable? Social Security income can be taxable no matter how old you are. It all depends on whether your total combined income exceeds a certain level set for your filing status. You may have heard that Social Security income is not taxed after age 70; this is false.

What tax forms does the average person need? ›

Most Common Tax Forms
  • Form W-2, Wage and Tax Statement. ...
  • Form 1099-MISC, Miscellaneous Income. ...
  • 1099-G, Certain Government Payments. ...
  • Form 1099-K, Payment Card and Third Party Network Transactions. ...
  • Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.

What is the easiest income tax form to use? ›

The 1040EZ is a simplified form used by the IRS for income taxpayers that do not require the complexity of the full 1040 tax form.

Do I have to file taxes if I made less than $1000? ›

So as long as you earned income, there is no minimum to file taxes in California. It is a good idea to talk with a tax professional to determine your filing status and whether you are required to file or could benefit from doing so anyway.

What can I write off on my taxes? ›

If you itemize, you can deduct these expenses:
  • Bad debts.
  • Canceled debt on home.
  • Capital losses.
  • Donations to charity.
  • Gains from sale of your home.
  • Gambling losses.
  • Home mortgage interest.
  • Income, sales, real estate and personal property taxes.

What tax forms should I wait for before filing? ›

Wait to file until you have your tax records including:
  • Forms W-2 from your employer(s)
  • Forms 1099 from banks, issuing agencies and other payers including unemployment compensation, dividends, pension, annuity or retirement plan distributions.

What is the new 1040 form for seniors? ›

Key Takeaways

Form 1040-SR is a large-print version of Form 1040 that is designed for taxpayers who fill out their tax return by hand rather than online. A Standard Deduction table is printed right on the form for easy reference. You need to be 65 or older to use Form 1040-SR.

What is the extra standard deduction for seniors over 65? ›

Additional Standard Deduction for People Over 65
Filing StatusTaxpayer Is:Additional Standard Deduction 2024 (Per Person)
Single or Head of HouseholdBlind$1,950
Single or Head of Household65 or older$1,950
Single or Head of HouseholdBlind AND 65 or older$3,900
3 more rows
Mar 11, 2024

What is my federal tax rate? ›

2022 tax brackets and federal income tax rates
Tax RateSingle filersHead of household
10%$0 to $10,275$0 to $14,650
12%$10,276 to $41,775$14,651 to $55,900
22%$41,776 to $89,075$55,901 to $89,050
24%$89,076 to $170,050$89,051 to $170,050
3 more rows

What are the three main categories of a tax return? ›

Final answer: The three main categories of a tax return are income, deductions, and credits. Income reports all revenue sources, deductions reduce taxable income, and credits directly decrease tax owed, potentially leading to a refund.

What are the different types of IRS returns? ›

Get the IRS tax forms and publications you need to file taxes.
Form numberForm name
1040EZIncome Tax Return for Single and Joint Filers With No Dependents
1040-ESEstimated Tax for Individuals
1040XAmended U.S. Individual Income Tax Return
Schedule A (Form 1040)Itemized Deductions
80 more rows
Dec 12, 2017

What is the difference between a 1040 and a 1040EZ? ›

Key Takeaways. Form 1040EZ is no longer used, and has been replaced by Form 1040 and Form 1040-SR. Form 1040EZ was used for taxpayers with a simple tax return, filing status of single or married filing jointly, taxable income of less than $100,000 with less than $1,500 of interest income, and no dependents.

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