When you say Robinhood business, are you a day trader or a casual trader or it had nothing to do with stock and it was the name of your business?
If this is a business you have named Robinhood or if you meet the definition of a day trader (not just call yourself a day trader...see below) then you would report your income and losses on Schedule C. Your losses would be deductible in the same manner that other business income is deductible.
If you are a casual trader, did you sell the investments or did you just see a decrease in value. If you sold them and realized a loss of $15,000, you can use the loss to offset other capital gain losses. If you simply saw a decrease in the value, but you did not sell, then you cannot do anything with the loss until you sell.
"To be engaged in business as a trader in securities, you must meet all of the following conditions:
- You must seek to profit from daily market movements in the prices of securities and not from dividends, interest, or capital appreciation;
- Your activity must be substantial; and
- You must carry on the activity with continuity and regularity.
The following facts and circumstances should be considered in determining if your activity is a securities trading business:
- Typical holding periods for securities bought and sold;
- The frequency and dollar amount of your trades during the year;
- The extent to which you pursue the activity to produce income for a livelihood; and
- The amount of time you devote to the activity."
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