Tax for stock trading robinhood
Hi all, newbie here. I started to play with stocks only last year after getting my first full time job. I only bought and sold shares. No option or contracts. Got the 1099 from robinhood. Apparently the person that my parents file with told me I need a 1099B form. I am not sure where to get that. And I think the 1099 from RH should suffice? If anyone here can please guide me how to use the 1099 that would be helpful. The amount is not so huge so I donโt want to hire a CPA or something.
Have you sold the stock you bought yet?
I did a few
I literally started with 2.7k and it ended close to 8k (4 months of trading) and the numbers in the 1099 confuses me, because my assumption was net gain/loss would be ~8k-2.7k?
Maybe someone can see this https://robinhood.com/us/en/support/articles/how-to-read-your-1099/ And as I understand the summary section is supposed to be the 1099b?
What you linked to is a consolidated 1099. It has a bunch of forms (1099b, 1099-div)
You mean the small sections right? In my case the 1099-b is all zeros, but the guy keeps saying he needs 1099b. I am so confused
When you say it has a bunch of forms, is it separate? Or the sections I see in the image that say 1099b is enough?