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I'm an international student in the USA on an F1 Visa. I just want to know if I can use Robinhood app on my visa status. I've found some posts on Quora that say trading is completely legal, but should not be on a daily basis. It's mentioned that trading should be only a passive source of income. Can someone clarify further?

Thank you.

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DISCLAIMER: Please use this answer at your own risk. Check/confirm with your school's Tax department and International Affairs office because of dynamically changing visa regulations recently. I did the same for my case before posting this answer.

Yes, you cannot do day-trading (check definition from IRS or Robinhood) on F1-visa but the rest is typically fine. Robinhood will issue you a bunch of tax forms (usually 1099 forms) at the end of the year. You'll need to put in the info from those forms into whatever tax filing software you and/or your college uses. My college uses Glacier Tax Prep but if you're using TurboTax, I've heard there is an option to enter your Robinhood Account Info and all your tax info will get transferred! Once your Tax form is complete, you'll know whether you need to pay more tax or you'll receive a refund.

UPDATE: I filed using TurboTax this time (for the fiscal year 2020) and can confirm that Tax Info from Robinhood stock trading (among other apps) gets automatically transferred using your account details (you should verify afterward though). However, you'll need to use the paid version of TurboTax to file taxes related to Stock Trading :(. Robinhood gave a little discount on the paid version of TurboTax :)

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You can trade with Robin Hood if you have a SSN to sign up with Robinhood. Submit a W-8 form as zero taxes for non-US citizen.

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