Stock -Class A to B

[burrheadd]

Don’t you have to have at least 100 shares before you can sell any or all of them?

No

 

[Turdferguson]

I am reviving this age old thread because I am having trouble selling. I only want to sell 20 shares so I can get my truck paid off, but I have to convert my shares to class B. I tried calling to have them walk me through it, but of course the whole system is automated now and I couldn't talk to an actual person!

Can anyone verify if I printed out the correct form. "Form 2011 request for conversion of class A to class B stock, and transfer of ownership." The form is 6 pages long and I honestly have no idea how to fill the thing out. I would try my best to fill it out, but I don't want to do it wrong and send it in to get rejected.

You only have to fill out about three of the pages. You'll need to print out and write out like an eight digit stock number, and then get a medallion signature ( which your bank should be able to do for you) . Then mail it out

 

[Turdferguson]

How much taxes will you be paying vs interest on the loan? I guess you should factor dividends in too.

You'll only pay taxes on the profit

 

[Turdferguson]

Don’t you have to have at least 100 shares before you can sell any or all of them?

No , that's only if you are doing it online

 

[burrheadd]

You only have to fill out about three of the pages. You'll need to print out and write out like an eight digit stock number, and then get a medallion signature ( which your bank should be able to do for you) . Then mail it out

What if you don’t have a bank? Can you take it to Walmart or n Go

 

[Brownslave688]

You'll only pay taxes on the profit

Do I get paper work on the cost basis?

 

[Turdferguson]

What if you don’t have a bank? Can you take it to Walmart or n Go

Then you will be paying for a medallion signature instead of getting it done for free

 

[Turdferguson]

Do I get paper work on the cost basis?

I got no idea what that means, what do I look like Warren Buffet?

 

[Brownslave688]

I got no idea what that means, what do I look like Warren Buffet?

How much each share cost you to buy.



Otherwise how would one calculate profits?

 

[IVE GOTTA PACKAGE 4U]

I got no idea what that means, what do I look like Warren Buffet?

 

[Brownslave688]

I got no idea what that means, what do I look like Warren Buffet?

Ask @upschuck







Whatever he says is wrong so do the opposite.

 

[Wally]

Might be easier to stop buying shares and use that money to pay down the principal?

 

[Turdferguson]

How much each share cost you to buy.



Otherwise how would one calculate profits?View attachment 165782

Then yes ,you get a cost basis at the end of the year with you tax statement from them

 

[Wally]

View attachment 165783

 

[upschuck]

Whatever he says is wrong so do the opposite.

Listen to @Brownslave688

 

[Rack em]

You only have to fill out about three of the pages. You'll need to print out and write out like an eight digit stock number, and then get a medallion signature ( which your bank should be able to do for you) . Then mail it out

So if I fill out the form and send it in, they will convert them to class B, and then I go online and sell them?

 

[Turdferguson]

So if I fill out the form and send it in, they will convert them to class B, and then I go online and sell them?

No just include a note stating to sell the converted shares. It takes about a week or two for it to go through. If they have your bank information they will direct deposit the whole shares and they will send a live check for any fractional shares...and no I don't know why they do it that way

 

[Brownslave688]

No just include a note stating to sell the converted shares. It takes about a week or two for it to go through. If they have your bank information they will direct deposit the whole shares and they will send a live check for any fractional shares...and no I don't know why they do it that way

Why doesn't It all go right to my bank account?

 

[brownmonster]

No just include a note stating to sell the converted shares. It takes about a week or two for it to go through. If they have your bank information they will direct deposit the whole shares and they will send a live check for any fractional shares...and no I don't know why they do it that way

I just sold them online and the money was deposited. No mailing anything in or converting anything.

 

[Turdferguson]

I just sold them online and the money was deposited. No mailing anything in or converting anything.

If you don't have more than 100 shares then you have to do it the other way