Robinhood is a cryptocurrency exchange platform best suited for beginners due to its zero-commission brokerage approach with no minimum balance. It offers stocks, options, ETFs, and cryptocurrencies. The platform supports Bitcoin, Dogecoin, Ethereum, and two new other cryptos; Compound and Polygon.

How does Robinhood tax reporting work?

Are you trying to find a way to retrieve tax reports on Robinhood? Unfortunately, Robinhood to doesn’t provide tax reports but luckily, you can use Accointing’s Robinhood portfolio tracker and tax calculator to generate tax reports. Accointing allows you to seamlessly track your portfolio performance and generate tax reports in the format required by your country.

To be able to do that, integrate your Robinhood account with Accointing and import your trade and transaction history. Here are ways of achieving that:

1. API – Grant Accointing automatic connection and auto-syncing to your Robinhood account.
2. CSV – export your transaction history in a CSV file and import it into Accointing.
3. Accointing template – download, fill out our simple template and upload it into Accointing.

Integrate with Accointing via the Robinhood API

Robinhood operates differently compared to other crypto exchange platforms like Binance. This uniqueness renders the need for an API useless. That’s because the platform doesn’t allow sending of cryptos bought to an external wallet. Also, you cant send cryptos to Robinhood from your external wallet.

This model allows the platform to provide comprehensive tax forms on gains and losses at the end of the year. That’s because Robinhood knows precisely how much you gained or lost from your transactions since every buy or sell activity happened within the platform.

API supported features:

None.

API unsupported features:

None.

Integrate with Accointing via the Robinhood CSV/XLSX file

The 1099-B forms often don’t work with most crypto exchanges since they can't keep track of the cost basis of the withdrawn and deposited crypto assets. That’s a different case with Robinhood because their forms do work. Since the platform does not allow transfers to or from the platform hence the 1099-B forms issued by Robinhood can be used for accurate tax reporting.

However, if you trade other assets like stock, options, and EFTs apart from cryptocurrencies, the 1099-B forms cannot help. You’ll need to retrieve your transaction history from Robinhood and upload it to Accointing.

If you don’t want to link your Robinhood account with Accointing using the API, you can also do so by importing a CSV file containing your history of trades, withdrawals, and deposits. Here is a simple step to go about it.

Downloading CSV files from Robinhood

Robinhood doesn’t offer a way of retrieving transaction history from the platform. But you can use a Google Chrome browser extension to do so.

1. Download and install the Chrome browser extension.
2. Login to your Robinhood account.
3. Navigate to your account history.
4. Scroll the transaction history you want to download.
5. On your Chrome browser to the top right corner, click on the extension icon. A popup with a click button will be displayed.
6. Click the download button to get the CSV file with your transaction history.

Importing CSV files into Accointing

1. Login to your Accointing account.
2. Under the Wallets menu, click on Add wallet.
3. In the search input, type in Robinhood and select it from the list.
4. Next, select the File Import option and click Continue.
5. Set the wallet name as Robinhood.
6. Browse the CSV file downloaded and select it for upload.
7. On the ‘Import from’ dropdown, select All.
8. Click the Save button to start the import.

How to review and track your Robinhood transactions in Accointing

1.  After finalizing the Robinhood transactions import, go to your Accointing dashboard to view a summary of your portfolio.
2. Set the date range as desired to start analyzing your Robinhood transactions history, gains, and losses
3. Click the various crypto assets to view and analyze your Robinhood buy and sell dates. You can also choose multiple assets at a go to compare the performance of the chosen dates.
4. You’re all set to start monitoring your Robinhood investment portfolio. You can also view your distribution and spread, as well as know whether an asset is stored in an exchange or wallet.

Common issues with importing transactions from Robinhood

Robinhood does not allow the transfer of crypto assets in and out of the platform as it’s not a “native” crypto exchange. As such, it doesn’t offer an API but instead offers its 1099-B tax form for those trading cryptocurrencies only.

For those who trade stocks, options, and EFTs in addition t stock, it becomes difficult to retrieve transaction history since Robinhood doesn’t offer a way of downloading the data. You can either request it from the support team or use other methods to retrieve them from the web UI.