1099- b Cost basis left blank from computershare

[heifamily96]

We received our 1099-b from computershare. There are 3 "sales" on it. One does not have the cost basis and the box is marked for "non covered Security" When I go into EQUATEPLUS which handled this for Computershare under Documents, Then in Transactions , then under US Tax form supplement

 There are there is a breakdown of the sale. Covered , Non covered short and long. Under the uncovered long term they have a total about of shares sold with  the amount under the tab  "reportable cost basis" . 
is this the amount we can use ? 

[DianeW777]

Yes, if you have a 'reportable cost basis' and you believe this accurately reflects the amount you paid for the computershare investment, then use that amount for your cost basis.

The explanation of the difference between covered and noncovered shares. 

In 2008, Congress passed legislation which required brokers to report the cost basis for securities and mutual funds to both the investors and the Internal Revenue Service (IRS), effective tax year 2011

the difference between covered and noncovered shares is who keeps track of the cost basis.

• For covered shares, the financial organizations are required to report cost basis to both you and the IRS. 
• For noncovered shares, the cost basis reporting is sent only to you or you must use your own records of cost basis.

Holding Periods:

1. Long term: held more than one year (one year plus one day) - received special capital gain tax treatment
2. Short term: held one year or less - taxed at your ordinary rate of tax