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mg8770
New Member

How do I report the selling of stock of $500 from Robinhood on 2020 taxes?

I sold $500 of my stock portfolio in December 2020 on Robinhood, and I'm trying to report this on my 2020 tax return.
I'm currently on the wages and income section where it asks me to import my information from a variety of financial institutions if I sold any stocks. I filled my info in for the Robinhood account, from the 1099-Div I downloaded but I don't see the $500 worth of stocks I sold in December. Because once I put that information in it says "can not find account/information".
Do I need to file it under a different section? What do I need to report it as then if it's not allowing me to under " What type of investments did you sell"?

I don't want to get in trouble by not reporting.
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2 Replies
ThomasM125
Expert Alumni

How do I report the selling of stock of $500 from Robinhood on 2020 taxes?

Stock investment sales would be reported on a form 1099-B. You should enter them in TurboTax as follows:

 

  1. Income and expenses
  2. Investment Income
  3. Stocks, Mutual Funds, Bonds, Other

The basic information you need to enter is the date purchased, date sold, proceeds and cost basis.

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How do I report the selling of stock of $500 from Robinhood on 2020 taxes?

if you did one sell transaction, you can enter that yourself manually and you won't need to import 1099-B or do any mailing of details.

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