what if i don t know the cost basis for a stock i sold 
the brokerage that you used to purchase the stock should have records of the sale even if you didn t keep those records yourself you should be able to find them through the brokerage website or by calling the company directly the bottom linea noncovered security is an sec designation indicating that a broker does not have to report the cost basis of that security to the irs this is generally for smaller securities securities created from noncovered securities such as stock splits or drip accounts remain noncovered the brokerage still reports the cost basis to the taxpayer and if the taxpayer sells the security the basis and any gains or losses must be reported to the irs on irs form 1040 schedule d irs form 8949 is also used to report investment sales of both covered and noncovered securities 