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Noncovered Security

In tax return reporting, a noncovered security is a security acquired before 2011 or stock not purchased for cash, such as shares received at the vesting of restricted stock or performance shares. While the proceeds of the sale appear on the revised Form 1099-B you receive from your broker, the cost basis does not. For details on the revised Form 1099-B and its impact on tax return reporting, see a related article.

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