Robinhood discount for TurboTax: Robinhood was an English folk hero known for stealing from the rich to give to the poor. If we think of TurboTax as a greedy capitalist riding their metaphorical horse through Sherwood forest, then using a coupon is ironically like virtuously stealing from them!
Anyway, filing taxes after a year of investing can feel like a chore; especially if you traded stocks, options, or crypto in Robinhood and now you’re staring down a long list of transactions. The good news: TurboTax can usually import the details you need, and Robinhood has sometimes offers a TurboTax discount to nudge users toward a smoother filing experience. Here’s how to get the Robinhood TurboTax discount, how much you can save, and what to do if the discount isn’t working.
How to Get the Robinhood TurboTax Discount:
Robinhood has historically partnered with TurboTax to offer customers a pretty sweet discount on their online products during tax season. However, it’s not guaranteed every year, and the offer details and savings can change.
Here’s how it works (when available). Robinhood advertises a discount on TurboTax online products directly to their customers through their accounts and/or by email.
Follow these steps to access the offer during tax season:
- Log in to your account at Robinhood.com or through the Robinhood app
- Visit Help Center / Documents & Taxes
- Click on TurboTax Troubleshooting
- Click the Robinhood affiliate link under “How do I get my TurboTax discount”
By clicking the promotional link, Robinhood customers are bounced over to a special Robinhood branded landing page on TurboTax like this:
By clicking “start for free,” the partner discount should be applied instantly and itemized at checkout when you file your taxes, even if that is a couple days later.
How Much is the Robinhood TurboTax Discount?
The discount depends mostly on when you file, as savings are greater early in the tax season when you might see a $20 discount. As March approaches, that discount usually drops to $10, so Robinhood customers are rewarded for filing their taxes early with TurboTax. You can check today’s offer here.
Robinhood TurboTax Discount Not Working?
You’ll find numerous people on Reddit and TurboTax support reporting that their Robinhood TurboTax discount isn’t being applied. When this happens, you feel like you’re lost in your own Sherwood Forest. Don’t worry, it’s usually just because of security settings on the users end including cookie or caching issues. If this happens, try this:
- Log out of TurboTax
- Clear your browser cache and cookies in your browser (how?)
- Click the TurboTax affiliate discount link again
- Log back into your TurboTax account
- The discount should be applied to online products
I would advise being on your own WIFI or data when logging in to TurboTax, and avoid doing so on public WIFI or at work. You’ll want online security, but if all cookies are blocked the discount may not apply.
Tip: Also keep in mind that some promotions have expirations. So, if you were sent a discount by Robinhood in January, it probably won’t work in March!
How TurboTax Integrates With Robinhood
In addition to a sweet discount, Robinhood customers can also enjoy the convenience of using TurboTax to file, mainly through quick and simple import of your tax forms.
If you sold investments, you’ll typically receive a Form 1099-B (often as part of a consolidated 1099). TurboTax supports importing 1099-B data by selecting your brokerage/financial institution and following the import flow, or you can enter it manually if needed.
TurboTax also publishes guidance for “investor app” taxes and notes that you can import investment information from many participating financial institutions. That’s helpful if you have multiple brokers beyond Robinhood.
A couple of tips for TurboTax / Ronhood users:
- Wait for final tax forms. Broker 1099s can be corrected/reissued.
- Double-check categories. Options, wash sales, and noncovered transactions can require extra attention.
- Save your Robinhood PDFs/CSVs anyway. Even with an import, it’s smart to keep the original documents for your records.
TurboTax is known for doing a good job of importing tax info from popular financial sites like Robinhood, Schwab, Fidelity, and more. It’s another reason why going with a second-rate tax software is a bad idea and can cost you time and money in the end.
Is the Robinhood Discount the Best Savings on TurboTax?
TurboTax has many affiliates; from big banks to tax bloggers, and they usually pass on the same offers to all of them. So, the Robinhood TurboTax discount is probably the same as our affiliate discount or the one available to AAA members or other trading platforms like Coinbase and E*TRADE. It’s really more about when you click a TurboTax promotion as opposed to where you click from, as the savings are consistent and discounts are always better early in the tax season.
With a mission to democratize finance, Robin Hood founder, Vlad Tenev, named the app after the legendary English folk hero whose story centers on justice, rebellion, and helping the poor.
In that sense, maybe Mighty Taxes is like Friar Tuck, a jovial Merry Man taking money from a rich corporation and giving it to our readers in the form of coupons during tax season? OK, that’s a stretch, but I hope we were at least able to explain how getting a discount on TurboTax through Robinhood works, and you get the best deal possible. Remember, file early for the biggest savings.
Thanks for stopping by Mighty Taxes!