I traded stocks on Robinhood in 2020. Will I have to pay taxes on capital gains even when I did not withdraw the money from Robinhood?

atheer_baqer — Fri, 26 Feb 2021 18:20:08 GMT

Re: I traded stocks on Robinhood in 2020. Will I have to pay taxes on capital gains even when I d...

MinhT1 — Fri, 26 Feb 2021 18:31:46 GMT

Yes, when you sell stocks, if you have capital gains, you have to pay capital gain tax, even if the money is not withdrawn from your brokerage account.

You have to report these sales which are on forms 1099-B.

You can enter your form 1099-B by following these steps:

In TurboTax, open your tax return
Click on Federal in the left-hand column, then on Wages & Income on top of the screen
Scroll down to All Income, locate the section Investment Income and click on Show more
Click Start next to Stocks, Mutual Funds, Bonds, Other

topic I traded stocks on Robinhood in 2020. Will I have to pay taxes on capital gains even when I did not withdraw the money from Robinhood? in Investors & landlords

I traded stocks on Robinhood in 2020. Will I have to pay taxes on capital gains even when I did not withdraw the money from Robinhood?

Re: I traded stocks on Robinhood in 2020. Will I have to pay taxes on capital gains even when I d...