"However if I could combine them together the gain is correct?"
That doesn't make sense. "Covered" means "broker reports basis to IRS", "noncovered" means "broker doesn't report basis to IRS", even if they know the basis and even if it's disclosed on your 1099-B. The "covered" trade is, presumably, properly reported as to gain or loss. I don't know how the "noncovered" trade was reported to you - maybe they left the basis box blank? - so the tentative gain reported on that trade is incorrect. So how does combining a correct and incorrect gain/loss number somehow come to an overall correct gain/loss figure?
Presumably the covered trade is correct so you simply enter it "as is".
Presumably the noncovered trades is wrong somehow - there's a blank in the basis box or the broker put some number in there in error - but you don't worry about that. You enter the 1099-B as it reads, except for the basis box, and you simply enter the correct number for the cost basis based on your records. The basis isn't being reported to the IRS so the IRS is only going to see the number you entered.
Tom Young
