Do I need to add Robinhood data to TokenTax?

Do I Need to Add Robinhood Data to TokenTax?

Robinhood offers users the ability to trade and invest in crypto either exclusively within its ecosystem, or transfer crypto between Robinhood and other platforms/wallets. Each of these scenarios requires a particular method of importing your Robinhood data in order to properly report your transactions to tax authorities.

A “walled garden” means that you transacted entirely within the platform’s ecosystem (and didn’t transfer assets onto or off of the platform). If your Robinhood activity matches this description, you do not need to import these transactions into TokenTax’s software.

In a “walled garden” scenario, you should submit the 1099-B and/or 1099-MISC provided by Robinhood to the tax professional handling your full return.

You will need to import your Robinhood transaction data into your TokenTax account in order for your cost basis to be properly accounted for, and for your tax reports to be accurate.

To import your transactions from Robinhood into your TokenTax account, you will need to contact Robinhood support and request a “Spot Report” with all transactions in your account (cash, crypto, etc.)

Optional other method: You also have the option to import your taxable and non-taxable transactions via our Manual CSV template. Once properly completed, the manual CSV containing your Robinhood transactions may be imported into your TokenTax account and should automatically sync (in green). You should always review the filtered transactions on your All Transactions page to ensure all transactions have been populated and are correctly categorized.