Do be aware (because I have already done this process for 1 share), there is No ability or way to sell your shares once Continental has your shares.
If you plan to sell, you must reverse the DRS back to your broker to sell.
Good point. Yes, the DRS process is intended for long-term shareholders that want full individual control and certificate ownership (vs custodial ownership through a Broker). Any sales need to be planned far in advance and make take some time to complete. It is not really intended for active traders.
I’m not a tax advisor or financial advisor. I don’t give financial advise. I transferred 1 from fidelity and it cost nothing for the DRS transfer. I have also reversed a DRS for GME once back to Fidelity. This transfer also cost me nothing. The only taxable event is selling, short or long. Short is less than 1yr ownership and is taxed higher, long is more than 1yr ownership and is taxed lower.
Do be aware (because I have already done this process for 1 share), there is No ability or way to sell your shares once Continental has your shares. If you plan to sell, you must reverse the DRS back to your broker to sell.
Good point. Yes, the DRS process is intended for long-term shareholders that want full individual control and certificate ownership (vs custodial ownership through a Broker). Any sales need to be planned far in advance and make take some time to complete. It is not really intended for active traders.
I just checked my account and DWAC is up 17.23%
Is there fees that need to be covered to avoid taxes on selling to cover the transfer?
I’m not a tax advisor or financial advisor. I don’t give financial advise. I transferred 1 from fidelity and it cost nothing for the DRS transfer. I have also reversed a DRS for GME once back to Fidelity. This transfer also cost me nothing. The only taxable event is selling, short or long. Short is less than 1yr ownership and is taxed higher, long is more than 1yr ownership and is taxed lower.