Originally Posted by
petey2428
Sorry for a newbie question, but I currently have some stocks on etrade. I'm thinking about transfering them over to fidelity to take advantage of this offer. I do not trade regularly and feel apathetic about etrade as a trading platform.
1. Is etrade going to charge me any fee to transfer my stocks over?
2. Is this worth the 15k miles? I believe that this is a in kind transfer, so technically this shouldn't affect my investments/tax right?
3. Is this going to complicate my tax return?
Fidelity's commission is actually $2 cheaper, so this might be worth it. What do you guys think?
Thank you very much for your help!
Re #2 - yes. It has no effect on your investment since it is an in-kind transfer and as you point out the commission is $2 cheaper so you'll be better off.
Some companies charge an account closure fee of up to $75 so you'll need to check with e-trade to see if they do/will. I'd still do it for the 15k miles even so.
Fidelity did not send me any tax forms. So the onus would be on you to file should you choose to do so.