The following Q&A and Cost Basis Calculator are designed to help you understand the tax implications of the initial liquidating distribution of .20 per share paid to shareholders in December 2016 and the remaining liquidating distributions.
Please note that this information is provided for illustrative purposes only and to help give you a general understanding of the consequences of the recent liquidating distributions. Shareholders must contact their tax advisors for specifics regarding the taxation of their individual investments.
Few months back, I moved our investment accounts to Questrade, attracted primarily by their ultra-low commissions and good word-of-mouth recommendations.
Everything went smoothly for a while – my account was transferred out without a hitch and trades were executed perfectly – until last week.
Today, another agent claimed that someone would have to review my records for each trading day to verify my claim that there was no margin balance (though it took me a four minutes to check; not four days). Finally, I had to send an e-mail to Emil Vojkollari, Client Acquisitions Supervisor at Questrade requesting his intervention in this simple matter.
Sure enough, within a very short time, a Questrade agent finally contacts me with the information that the interest charge was an error and would be taken care of shortly. As a client, my bottom line is very simple: if Questrade made a mistake, it is a simple matter of acknowledging it and reversing the charge immediately; not giving me the run around.
A: No, in addition to the initial liquidating distribution, we expect to make one or more additional liquidating distributions in First Quarter 2017.
Its strategy was to identify and exploit oil and gas reserves in underdeveloped areas while seeking to minimize associated risk.
I logged in to my account and discovered that an interest charge was deducted on our USD account.
The interest charge was puzzling because I never trade on margin or short stocks.
The next day, a different agent claimed that “the servers are down” and I would be contacted for sure shortly with an explanation.
On the third day, I got the same agent again claiming they were still working on resolving the matter.