Stock name changes
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Stock name changes One final question, I hope! We have two situtations where we have received a new stock and Ameritrade has charged us $20.00 for a mandatory reorganizational fee. Anonyx became TPTX which created a $20.00 fee, I presume because it is a new symbol to the stock market. Then Agilent spun off Verigy which is also a new stock and we got another mandatory reorganization charge from Ameritrade. Do these charges become part of the cost of the stock like a commission or are they just expenses. I assumed they were general expenses, but I am not sure. Do all brokerages charge for new stock or is this an Ameritrade rip-off? Sandy
Sandy, << Do all brokerages charge for new stock or is this an Ameritrade rip-off? >> It's a rip-off practiced by way too many brokers. The $20 should be added to the basis of the stock. They way to accomplish that is to enter it as a negative return of capital. Rip West Saint Paul, MN |
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