Do you have to report a purchase of non covered stocks?

[KeV0172]

I am a novice stock investor and recently enrolled into reinvestment program my brokerage company offers. I noticed some of my stocks were covered vs. non covered. The one concern or clarity I would like is, do we have to report when non covered stocks are purchased?

[Lisa995 · Accepted solution]

You report stocks on your taxes when they're sold, not purchased.

[Lisa995]

and yes, both covered and non covered stocks will be reported when sold.

[SteamTrain]

I'm pretty sure that most stocks purchased in the last few years are all "covered".  Some securities were phased in over a couple years, but everything purchased since 2013? should be covered.   And all that means is that the Brokerage has the purchase price in their records, and will be reporting your purchase costs when you eventually sell those stocks.

The only non-covered stocks you should have are ones that were originally purchased years ago before "covered" stock purchases existed.  

But if you have non-covered stocks that have been held for awhile, and start a DRIP reinvestment, the new shares purchased with the DRIP should now be covered purchases, even if the original stocks are not..

(Though there may be some exceptions).