Does my client need to report purchased stock?

[tbanks]

My client purchased stock through Robinhood, from what I know it was nothing too expensive. Is there an "anything above this amount" that needs to be reported? Or does all purchases need to be reported? He wants to process his taxes now but was advised they will not be available until 2/15.

[itonewbie · Accepted solution]

Stocks purchased themselves are not reportable unless those are for closing a short sale or covering an option.

[IRonMaN]

But you do need to wait for his 1099 to come so that you can report his interest and dividends on his 1040.