4

Robinhood is my broker and this year I decided to file my Federal and state taxes by myself.

Robinhood gave me two 1099-Bs for last year. Half of my transactions are on one 1099-B and the other half on the other.

I don't need to fill out 8949 as all the basis has been reported to IRS and I have not adjustments on any of my transactions.

Now, do I need to fill in two Schedule-D forms for each of the 1099-Bs or can I add up my totals from the 1099-Bs and put them on the Schedule-D?

note: Robinhood changed it's clearinghouse last year. https://blog.robinhood.com/news/2018/10/9/introducing-clearing-by-robinhood So they gave me two 1099-Bs one for the old clearinghouse and one for the new clearinghouse.

1 Answer 1

7

Just as you would combine 1099-Bs from different brokers onto one Schedule D, you should combine the two 1099-Bs from the same broker. This assumes that each transaction is listed on exactly one of the 1099-Bs and there are no discrepancies. Your situation sounds unusual (assuming you don't in fact have two different accounts with the broker) -- typically a second 1099-B would be labeled as a corrected replacement (rather than a supplement) to the first, but you say you have verified that this is not the case.

1
  • 3
    Robinhood changed it's clearinghouse last year. blog.robinhood.com/news/2018/10/9/… So they gave me two 1099-Bs one for the old clearinghouse and one for the new clearinghouse :-) Thank you.
    – Aditya
    Mar 7, 2019 at 8:36

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.