So I have asked Robinhood to share the 2019 trade history to start working on my taxes. They shared the details in CSV. What I observed few of the trades have multiple rows. For example : I Did a trade to sell 4 JPM contracts at 0.25 and trade executed I was credited 103 $ . So for this SINGLE trade transaction history has 3 entries. 1) 2 contracts executed at 0.25 2) one executed at 0.26 3) one executed 0.27. This is due to price movement My question is such situations do I report a single entry on form 8949 with proceeds as 103 $ as it's a single trade or do I need to put 3 entries in 8949. Please advise....
Wait for your broker to complete the forms for you. Should have them by end of january. You won't be reporting individual transactions on the form. You'll report the summary of all trades from each broker. You'll also need to report long-term on a separate sheet from short-term which your broker will also sort for you. Better to let the broker do it as they'll be reporting those numbers to the IRS so you'll want your numbers to match.
And if you use tax return software, you can download your broker's 1099 into your return and the software will automatically compute all of that without you doing any calculation or entry.
Thanks which software are you referring to, trade log does not have auto import from Robin hood.. The problem is I have a mix of Robinhood and ameritarde. Pls suggest