Review withdrawal stock transfers very carefully

ira smilovitz on

We just discovered a problem with a withdrawal stock transfer. Even though we specified in writing which block of shares to transfer, TD Ameritrade chose to transfer shares from the oldest block. This was back in 2020. When we tried to transfer shares from that block recently, we were notified that those shares were no longer available having been transferred in 2020. I've instructed TDA that they need to correct their records for the shares we still own and the transferred cost basis for the shares distributed. We'll see what happens.

Ira Smilovitz

Laurie Frederiksen on

That can't be emphasized enough. You should always check the lot cost basis details for each lot of each stock against what your broker shows before you make a transfer and also after you make it.

That is the only way you will know that the withdrawal is entered correctly in bivio.

We're going to be talking about this further during our Audit webinar on Saturday. You can register for it now at this link:

Audit Party Webinar, Saturday, January 8, 1PM Eastern TIme

Laurie Frederiksen
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On Wed, Jan 5, 2022 at 3:28 PM ira smilovitz via bivio.com <user*2883400001@bivio.com> wrote:

We just discovered a problem with a withdrawal stock transfer. Even though we specified in writing which block of shares to transfer, TD Ameritrade chose to transfer shares from the oldest block. This was back in 2020. When we tried to transfer shares from that block recently, we were notified that those shares were no longer available having been transferred in 2020. I've instructed TDA that they need to correct their records for the shares we still own and the transferred cost basis for the shares distributed. We'll see what happens.

Ira Smilovitz

Susan Maciolek on

Ira,

Good luck with getting TDA to comply. In a different matter, I finally had to file a complaint with the FTC to get a resolution!

Susan Maciolek

On Wed, Jan 5, 2022 at 2:28 PM ira smilovitz via bivio.com <user*2883400001@bivio.com> wrote:

We just discovered a problem with a withdrawal stock transfer. Even though we specified in writing which block of shares to transfer, TD Ameritrade chose to transfer shares from the oldest block. This was back in 2020. When we tried to transfer shares from that block recently, we were notified that those shares were no longer available having been transferred in 2020. I've instructed TDA that they need to correct their records for the shares we still own and the transferred cost basis for the shares distributed. We'll see what happens.

Ira Smilovitz

The struggle itself toward the heights, is enough to fill a man's heart. One must imagine Sisyphus happy.

~ Albert Camus

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