G_squared_57, I am in the same boat with fidelity. I haven't received my shares yet. Any idea what price we are marked in for? My account says pending shares as of the 7th, but I hope I'm not bought in at the current price today ( 34.00)
I like the May 7th price better :)
Huh? Schwab has been re-investing my EPD distributions automatically each quarter to purchase additional shares. Been doing it for years.
I spoke with Schwab agent this morning. In order to take advantage of the 5% discount for the DRIP, you have to hold your shares directly through the transfer agent. That discount is not available for shares held in a Schwab account.
Never. I use Wells Fargo because my regular broker does not participate in the 5% discount program. I can go into the account the morning following the pay date, and the details are all there. I suspect that Fidelity, Schwab, TDAmeritrade, et. al., all use Wells Fargo which just happens to be the transfer agent for EPD. Wells Fargo does not charge anything to handle the DRIP program; the fees are paid by EPD. Wells Fargo does charge a huge commission plus a small fee if you sell the units through them. You can eliminate the fee and the commission by having your units transferred to your regular broker before selling them. You simply request a DRS (direct registration service) transfer of your units to your broker. I use Vanguard, which charges me no commission or fee to buy or sell. I get all the benefit of the 5% discount and still get to use my commission-free broker to buy and sell. Nice deal! Excellent service. I'm happy. I'm even happier that EPD was finally up today, for a change!
Yes, have the same thing happening to me, except, in my case it's a Fidelity account. I will wait 'til the end of the week before I call.
Schwab doesn't offer the DRIP, I've asked many times. You have to transfer your shares to the EPD custodian (Wells Fargo I think). The EPD website has the details.
No fee for trades ?? Is that right ? If so .... Who do you use, and how much do you have with them (if you don't mind horribly) ?
I called Schwab this morning because my DRIP shares had not yet been posted to my account. They told me the " third party" who handles the transaction will be sending the shares to Schwab on the 15th.
This is the first time they have taken so long, normally it's one or two days after the pay date.
Is anyone else experiencing this delay in getting DRIP shares posted?
clrodrick - I tried to post a reply on May 3rd but was unable to because of Yahoo. Today was the first for some reason. I am NO tax expert but I do my own taxes and have for years and I can't imagine you NOT being able to claim any losses from any gains. My answer to booth questions is YES you can. I would contact your
brokerage firm and ask them how they will report it to the IRS? That it's self should give you the answer.
Ordinary income is ordinary income. I think the reason you can't find the definitive answer is because YOU
can. - W.E.J.
I would never sell calls on a stock like EPD. Ideally, because of it's tax structure, this is a stock that you'd like to literally hold forever. If you were ever assigned on this stock, you'd be looking at a hefty tax bill (assuming you had accumulated substantial shares over time). The additional premium of selling covered calls isn't worth the risk or the headache.
I don't have that number, but I'm sure you can get it from Schwab. There must be a main number to call for everything. (I don't use them nor would I.)