Robinhood Turbotax Discount 2023 (2024)

FAQs

How to get Robinhood TurboTax discount? ›

How do I get my TurboTax discount? *Robinhood customers must redeem this offer at http://turbotax.intuit.com/affiliate/robinh2 to receive a discount of up to $20 for TurboTax federal products.

Whether you received a Robinhood tax form or a tax form from another investment institution, if you use TurboTax to prepare your tax return, you can import your investment information from hundreds of participating financial institutions.

Go to the website provided by your bank, credit union, or insurance company, and select the TurboTax link or icon. This will take you to the TurboTax-branded affiliate site with the discounted pricing. Select your TurboTax edition, sign in, and start on your tax return.

If you have a Form 1040 return and are claiming limited credits only, you can file for free yourself with TurboTax Free Edition, or you can file with TurboTax Live Assisted Basic or TurboTax Full Service at the listed price.

Save up to 20% off with TurboTax—the #1 best-selling tax software. Start Now! Must be a AAA Member to receive discount.

To start, the service code is a unique code that provides a discount to the TurboTax Online fees. However, only TurboTax specialists can provide these codes for specific, predetermined reasons, and aren't considered coupons.

If you sell any stock using Robinhood, you must report this and pay taxes on the gains. Sometimes Robinhood gives away free stocks for referring a friend or creating an account. If the value of the stock exceeds $600, you'll need to report this to the IRS.

In a word: yes. If you sold any investments, your broker will be providing you with a 1099-B. This is the form you'll use to fill in Schedule D on your tax return.

Which TurboTax do I use if I have stocks? ›

You may opt to use TurboTax Deluxe if you make your money through W-2 employment and intend to take line-item deductions instead of the standard deduction. TurboTax Premier may be a better option if you have investment income or losses.

Once inside your return, select File from the menu. On the Just X more steps and we'll file your returns screen, select Start next to Step 1. The following screen has a list of all your fees. Scroll to the bottom of the screen and select I have a service code.

You can use Free Edition by selecting Tax Tools in the left menu, then Switch to Free Edition. Selecting this option keeps all the data you've entered so far. Note: TurboTax Free Edition is for customers who are filing Form 1040 and limited credits only. Roughly 37% of taxpayers qualify.

The FTC said that TurboTax's “file FREE” claims misled people because most people didn't qualify for “$0 to file.” Except they only found that out well after they spent a lot of time putting all their info into the system. As a result, the FTC ordered Intuit to stop making false “free” claims.

You get your regular Referral Bonus once your referral links their bank account to Robinhood. How often can you get a Robinhood bonus? You can claim the Robinhood Gold Sign-Up Bonus only once, the first time you sign up. You can only claim one Robinhood Gold Card Referral Bonus.

TurboTax Free edition will not handle stock transactions. If you want to post the $10 stock transaction, you will have to upgrade.

Collect Tax Documents

Any time you have a capital gain from the sale of a stock or cryptocurrency, Robinhood will compile that information for you and provide you with an end of year tax document, called a Form 1099. This form must be provided to you no later than February 16, and you can find it in the Robinhood app.