I have a 1099-B form that has Box E as long term noncovered, but Box 1E is filled out with a cost basis. Am I expected to change Box 1E?

[SteamTrain · Accepted solution]

For non-covered share sales, some brokerages do not include a value in 1e when you import,

...........and other brokerages do include it...IF...if that broker knows the value.  You can change it if you are using a different sales procedure.

For instance, the broker usually uses first-in, first out for long term shares, but if you are using Last-in, first out for non-covered share sales, you will have to change their cost basis in 1e....but you'd better be keeping accurate records of every purchase and every sale if you do.