Why You Don’t Have a Consolidated 1099 This Year on Robinhood

Tax season can be confusing, especially when expected documents don’t appear. If you were anticipating a Consolidated 1099 from Robinhood but didn’t receive one, you may wonder if something was overlooked.

Understanding why this happens ensures you meet your tax obligations correctly.

Potential Reasons for No Consolidated 1099

Certain conditions must be met for a brokerage to generate a Consolidated 1099. If those thresholds aren’t crossed, you won’t receive one.

No Dividend Income

A Consolidated 1099 includes dividends earned throughout the year. However, the IRS only requires brokerages to issue a Form 1099-DIV if total dividends exceed $10. If your stocks didn’t pay dividends or the total was below this amount, Robinhood wouldn’t be required to provide this form.

Even if you were enrolled in a dividend reinvestment plan (DRIP), reinvested dividends are still taxable, but the same $10 threshold applies. Reviewing your account statements can clarify whether dividends were overlooked or if no form was necessary.

Minimal Stock Sales

A 1099-B, which reports capital gains and losses, is only issued if you sold stocks, options, or other securities. If you only purchased investments and didn’t sell, there would be no realized gains or losses to report.

Even if you sold securities, Robinhood only issues a 1099-B if there were reportable proceeds. If trades were conducted within a tax-advantaged account, such as an IRA, a 1099-B may not be issued. Checking your transaction history can confirm whether a 1099-B should have been expected.

Incomplete Brokerage Data

Incorrect or missing taxpayer identification information may prevent Robinhood from generating tax forms. If you transferred assets to or from Robinhood, reporting discrepancies could also affect whether a 1099 was issued.

Corporate actions such as stock splits, mergers, or spin-offs can impact reporting. Ensuring your tax information is up to date in your brokerage profile helps prevent issues with tax document generation.

Different 1099 Forms You May Receive

Even if you didn’t receive a Consolidated 1099, individual tax forms may still be issued depending on your account activity.

1099-B

The 1099-B reports proceeds from selling stocks, options, and other securities. It includes transaction dates, cost basis, and whether gains or losses are short-term (held for one year or less) or long-term (held for more than a year).

If you sold securities, Robinhood is required to issue a 1099-B, even if you had a net loss. The IRS allows taxpayers to deduct up to $3,000 in net capital losses per year against ordinary income, with any excess carried forward. Reviewing your 1099-B ensures all transactions are reported correctly, preventing discrepancies that could trigger an IRS inquiry.

1099-DIV

A 1099-DIV is issued when you receive dividends or capital gains distributions from stocks, ETFs, or mutual funds. It breaks down different types of dividends, including ordinary and qualified dividends, which are taxed at different rates.

Foreign dividends may also be included, along with foreign tax paid, which could qualify for a tax credit. Even if dividends were reinvested through a DRIP, they are still taxable. Checking the classification of dividends ensures accurate tax reporting.

1099-INT

The 1099-INT reports interest income earned from cash balances, bonds, or other interest-bearing accounts. If Robinhood paid interest on uninvested cash or if you earned interest from bond investments, you may receive this form.

Interest income is taxed at ordinary income rates. If you earned more than $1,500 in interest, you may need to file Schedule B with your tax return. Some interest, such as municipal bond interest, may be tax-exempt but still needs to be reported. Reviewing your 1099-INT ensures all interest income is accounted for.

Validating Your Account Details

Ensuring your Robinhood account information is accurate helps determine whether you should have received a tax document. Minor discrepancies in your profile can impact tax form generation.

Check whether your account is classified correctly. Tax documents are typically issued for taxable brokerage accounts, while transactions in an IRA generally do not trigger a 1099 unless a distribution was taken.

Confirm your withholding elections were set up properly. If you failed to provide a valid Social Security number or taxpayer identification number, Robinhood may have withheld a percentage of your earnings for tax purposes. The IRS mandates a 24% backup withholding rate in such cases.

Robinhood issues tax forms electronically by default, so you need to log into your account to access them. If you opted for paper delivery but changed addresses without updating your profile, your tax documents may have been sent to an outdated location. Checking your communication preferences ensures you receive tax-related notifications.

Filing Strategy When Forms Are Missing

If a tax document you expected doesn’t arrive, determine whether the missing form affects your tax liability. The IRS requires taxpayers to report all income, even if a 1099 was not issued.

Cross-referencing year-end account statements and trade confirmations can help identify any unreported taxable events. If income or gains exist but a 1099 was not provided, estimating the correct amounts becomes necessary. The IRS allows taxpayers to use reasonable approximations based on available records.

For example, if you earned interest on uninvested cash but did not receive a 1099-INT, reviewing monthly account summaries can provide a reliable estimate. Similarly, if you participated in promotional offers that provided cash rewards, these amounts may be taxable and should be included in your filing.

Reviewing Transactions for Accuracy

Before finalizing your tax return, reviewing your Robinhood transaction history ensures all taxable events are properly accounted for.

Check for wash sales, which occur when you sell a security at a loss and repurchase a substantially identical security within 30 days before or after the sale. The IRS disallows the immediate deduction of these losses, requiring them to be added to the cost basis of the new purchase.

Additionally, reviewing corporate actions such as stock splits or mergers helps confirm that cost basis adjustments were properly applied, avoiding errors that could result in an incorrect tax liability.

Requesting Documentation if Needed

If a tax form should have been issued but wasn’t, contacting Robinhood’s support team is the next step. Brokerages must provide tax documents by January 31, but delays or system errors can sometimes result in missing forms.

Providing specific details—such as transaction dates, security names, and estimated amounts—can help expedite resolution. Robinhood’s tax center within the app or website may also provide downloadable statements containing the necessary information.

If Robinhood cannot provide the missing documentation, alternative sources may be necessary. Bank statements, trade confirmations, and personal records can serve as supporting evidence when reporting income or capital gains. If estimated figures must be used, maintaining detailed records of how amounts were calculated can help substantiate your return if questioned by the IRS. If significant discrepancies remain unresolved, consulting a tax professional may be advisable.