MargaretL
Expert Alumni

Retirement tax questions

Covered means basis is reported to the IRS. Noncovered means basis is not reported to the IRS.  The 1099-B specifies this in a couple of ways... sometimes you will see a box checked in the covered/uncovered column. Often, you will see a title above your stock sales that would say "Long-term with covered" or "Long-term with basis reported to the IRS"... look for those descriptions to determine the sale category.