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Covered Security

In tax return reporting, this is a security, such as stock received from an option exercise or ESPP purchase, that you acquired for cash in 2011 or later. A covered security must be reported with the cost basis and other information on the revised Form 1099-B that you receive from your broker. Note that restricted stock/RSUs, performance shares/PSUs, and stock appreciation rights (SARs) are considered noncovered securities (this is important for understanding the reporting on your Form 1099-B). For details on the revised Form 1099-B and its impact on tax return reporting, see a related article.

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