Does anyone own stocks and have you ever cashed them out (question)....

[Lachesis00]

Do they charge you? We have an account w/Smith Barney and we need to cash it out... what can I expect... does anyone know?

 

[kild]

I cashed some out a few years ago and they took a percentage. It wasn't very much though.

 

[jel0511]

You'll be charged a transaction fee on each stock you need to sell. It really depends on what type of account you have. Also, if you do it over the internet, it usually costs less, than calling someone, or walking into an office and making the transaction. An internet trade (with my brokerage firm) is usually $25 per stock, up to 1000 shares, after that, the fee goes up. I believe a phone transaction is around $50, and a person assisted transaction (placed in an office) is $100. Now, this is per stock, since each is considered a separate transaction.

 

[mamajoan]

Yes we have stocks...

Charges on stocks can be incurred at different times.. all depends on how you purchased them. Some companies charge a service fee when you sell them. Just call your company and ask.. easy as pie to figure out. If not.. ask again.. that is why you have a them thru a company..

 

[Margie J]

Each brokerage has it's own fees for buying and selling of stocks. Call your broker to find out what yours charges.

Don't forget that if you sell at a profit you will owe capital gains taxes too. To figure your gain you will need your purchase and sales dates and prices plus any fees charged.

 

[doxdogy]

Also if the stock was issued as the result of a 401K or an Employee Stock Ownership Plan, make sure that you have all the info that would have been sent to you when the physical shares were issued. This will be needed to calculate either your loss or gain when the stock is sold.