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saddy451
Level 1

Received incorrect 1099B, robinhood isn't responding to my queries.

Hi,

I received incorrect 1099B, robinhood isn't responding to my queries. I have sold some shares and they have not accounted for in the 1099B but I do have the monthly statement reporting it correctly.

What are my options here ?  I am not sure if they respond before the tax filing deadline. 

Any recommendations will be helpful. 

 

3 Replies
JohnB5677
Expert Alumni

Received incorrect 1099B, robinhood isn't responding to my queries.

The 1099-B is the document that the IRS will receive.  That will be the document to match to.  If the broker information is wrong you will have to correct it through them, but they are usually pretty good.

 

Did the stock transactions that you had result in a loss, and did you by that stock, or a derivative back within 30 days.  This may have resulted in a Disallowed Wash Sale Wash Sale Rule , and you would not get credit for the loss until you sell the newly purchased investment.

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saddy451
Level 1

Received incorrect 1099B, robinhood isn't responding to my queries.

I have approached them multiple times, they don't have phone support and I raised multiple tickets via email, got standard response ' will get back to you in 1-3 days' it  might take weeks or even months before I hear from them if they decide to get back to me.  I heard horrible stories online. 

 

Did the stock transactions that you had result in a loss, and did you by that stock, or a derivative back within 30 days. 

Yes, stock was in loss, I didn't buy back the stock again. 

I am aware of wash sale rule. thanks for bringing that up. 

 

Thanks for your reply and support. 

fanfare
Level 15

Received incorrect 1099B, robinhood isn't responding to my queries.

If the cost or other basis is wrong you can enter the correct basis as an adjustment with TurboTax.

If other amounts are wrong you'd have to enter the correct amounts manually.

If transactions are missing -- that is, no 1099-B -- you have to enter those manually under Category C or F.

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