Reportedly is an adverb describing the action of reporting something that someone else told you, and there is no absolute way to verify it. Reportedly is often (but not always) used to discuss crimes and motives for wrong doing. People don't use it much in everyday conversations with friends, etc. In normal conversation, a similar, but more common word to use in conversation would be supposedly.
Supposedly refers to things that one supposes to be true, rather than a more official "report" of what is true.
"The boy went to the market reportedly to buy tomatoes; so it seems odd that he never arrived to the store."
"Supposedly, the boy was going to the store to buy tomatoes-- so it seems odd that he never arrived."
The first example (using reportedly) is more what you would find in a newspaper, or that people would use to discuss a case, a crime, or a strange occurrence.
The second example (using supposedly) is more what you would find in conversation.