I have read that they give the customer the ability to trade baskets of up to 30 stocks for one commission of $9.95 I have also read that they report these potential numerous transactions on a paper 1099. That would complicate tax season.Looks to me like you will get 1099s. Not sure if they have electronic access or not. From their website faqs https://www.motifinvesting.com/how-it-works/getting-started-...What about taxes?When you buy a motif, you own each stock it contains individually - that can be as many as 30 stocks. To do that, we actually place a separate trade for each stock. For each of those individual stock trades, Apex Clearing Corporation, our clearing partner, will provide you with cost basis and proceeds documentation. One advantage of owning the individual stocks is you have greater control over the potential realization of gains and harvesting of losses. You will receive a Form 1099 reporting the sale of any stock(s) made during the year. Motif does not offer tax advice; we recommend you consult your tax advisor regarding your individual situation.You should call them and ask if you are concerned about it.AJ
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra