HRH3
New Member

Get your taxes done using TurboTax

Issue resolved:

Robinhood imports all of the information on your 1099-B, including the information that doesn't get reported to the IRS; information that doesn't get reported such as gains or losses less than a specified amount by the IRS.  You can find this info on your PDF  with the following statement"This section of your tax information statement provides proceeds transactions that are not reported to the IRS, but may have a tax impact"  

 

basically, the irs has bigger fish to fry and these amounts are neither worth your time or theirs. 

 

You can resolve this error by going into your incomes > stocks > click on the brokerage that held this investment (in our case Robinhood) >  click through till you get to the itemized list of investments > delete the ones that are on the list of investments not reported to the IRS.  

 

In my case, I needed to remove my WABTEC investment from TurboTax, since it doesn't actually need to be reported.  

 

Hope this helps someone. I did call turbotax but was told i would need to pay upgrades in order to speak to a CPA.