FAQs
How to upload documents through our secure file portal:
- If prompted to upload a document to our secure file portal, we'll send you an email with a secure link to upload your document.
- Enter in your Case ID (in your chat or email from the support team)
- Enter your email address.
- Drag and drop to attach your file → Submit.
Do you have to report stocks on taxes? 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.
How do I verify my identity on Robinhood? ›
Any time you log in or make changes to your account, you'll receive a text message from Robinhood that contains a verification code. Open your text message and copy the code that was sent to you. Paste the code in the Robinhood app to finish signing in or to confirm the changes.
Why am i not able to trade options on Robinhood? ›
Trading options requires approval on Robinhood, and it isn't appropriate for everyone. Want to learn more before diving in? Our Options Knowledge Center explains terminology, basic and advanced trading strategies, and how to place an options trade on Robinhood.
Where is the 11 digit document ID Robinhood? ›
The Robinhood Document ID can be found in the top right of your Form 1099, under the Statement Date. This is an 11 digit alphanumeric ID. Like, “11AA 11A AAAA.”
How long does Robinhood take to approve? ›
Let's open your Robinhood account! Keep in mind, it may take 5-7 days to review the materials and open your account. While submitting an application, you can queue a deposit before your account is approved.
What happens if you don't file taxes for Robinhood? ›
We're legally required to ensure that all Robinhood customers certify their tax status. For US customers, we're generally not required to withhold taxes on proceeds, such as from sales, interest, and dividends. If you don't certify your tax status, you may be subject to backup withholding.
How much tax do you pay on day trades? ›
Day trading taxes can vary depending on your trading patterns and your overall income, but they generally range between 10% and 37% of your profits. Income from trading is subject to capital gains taxes.
Do I pay taxes on Robinhood if I don't withdraw? ›
When you buy or sell an investment with Robinhood, the standard tax laws apply. What types of taxes can you expect to pay? The length you hold the investment determines the taxes owed. A common misconception is that you can trade as much as you like, and if you don't withdraw money, you owe no taxes.
Does Robinhood require SSN? ›
To apply for a Robinhood account, you'll need to have a device that meets our Technology requirements, and meet all of the following individual requirements: Be 18 years or older. Have a valid Social Security Number (not a Taxpayer Identification Number)
Robinhood has a good track record of protecting users' Social Security numbers, though, so providing yours is as safe as giving it to most reputable financial apps. Unfortunately, U.S. FinCEN requires you to provide your Social Security number to your stock brokerage for identity-verification purposes.
How long does Robinhood take to verify identity? ›
Robinhood can take a while to verify your identity, but in general, it is a quick process, usually completed within 1-2 days. The time it takes to approve your identity can vary depending on how complete and accurate the documents are.
How much money do you need to trade options? ›
Most brokers require account sizes of $2,000 or less. However, trading an option account with only a few hundred dollars is not prudent. Option trading strategies work best when a trader employs only a small amount of their available capital on any one trade.
How much does Robinhood charge for options trading? ›
There's no commission fee to buy or sell options, nor is there a monthly fee. A driving commitment to offer you the best experience at low cost, coupled with the ability to create state-of-the-art technology pushed us to develop commission-free options trading.
How do beginners buy options? ›
- How to Trade Options in 5 Steps.
- 1.Assess Your Readiness.
- 2.Choose a Broker and Get Approved to Trade Options.
- 3.Create a Trading Plan.
- 4.Understand the Tax Implications.
- 5.Continuous Learning and Risk Management.
- Buying Calls (Long Calls)
- Buying Puts (Long Puts)
This information may be updated at any time. For information regarding civil requests, please see the Civil Requests Section below. To ensure a timely response by Robinhood, law enforcement authorities and authorized government agencies should send all subpoenas or requests to LERequests@robinhood.com.
How do I email Robinhood support? ›
Contact Robinhood Support immediately by emailing report@robinhood.com or by requesting a call from a live agent within the Robinhood app.
Why does Robinhood take so long to send tax documents? ›
Due to some special processing requirements and delays with a vendor, some forms were delayed by one day. We also know that this may be the first year many customers receive these forms and we'll be providing extra resources throughout this tax season to help people stay informed.”
How do I transfer assets to Robinhood? ›
You can transfer stocks, cash, and other eligible assets from your outside brokerages into Robinhood through ACATS. You can transfer all or part of an outside account. We only accept assets from individual cash, margin brokerage accounts, or traditional or Roth IRAs.
