BobKamman
Level 15
03-08-2022
10:08 PM
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There's that Box A, Box B, Box C, Box D sort -- sounds like it's all short-term "covered," which means the basis is reported --but then often with characters like that they get into publicly-traded partnerships (PTPs) and as soon as you finish the return, they show up with a K-1. Or they will bring you a K-1 and once you finish entering it, you notice it's for their IRA.
Not that it matters, but your client probably wasn't investing in Robinhood (although they did go public last year), but with Robinhood, just another discount broker but with better online marketing skills.