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  • walsingmalinda walsingmalinda Mar 2, 2010 11:09 AM Flag

    Royalty Clawback?

    gdp...I hope she takes your advice. We learned the hard way that an investor needs to watch what a broker does. We almost got burned when our broker changed a buy order for 3 stocks we wanted and placed it with an IPO being offered at that time. After a week went by and no buy conf showed up, I became suspicious and started questioning. Two weeks later corp office of Quick @ Reilly caught the shady deal and straightened it up. The only person madder than me was the branch mgr of Q@R because I didn't go thru him first. This screw up also generated a follow-up inquiry from the SEC.We now do our own investing thru BK OF AM discount broker with all transaction read back and recorded. No problem since. Hope that gal gets her problem straightened up. retiredafe8

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    • Finally got it straight. The money came out of the total annual royalties part of the statement, but not from the cash part.

      Without any cash impact, its a mere tax accounting problem. Next year I will download the stock information from the broker to Turbo Tax and pay whatever tax that is owed.

      Thanks for all the advice and assistance.

 
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