Interactive Brokers does not allow its clients to hold fractional shares of stock received from a Corporate Action. IB automatically converts the fractional shares to the cash equivalent. More information is available at:
ibkb.interactiv ebrokers.com/article/2121
GOOG had a stock dividend Ex-Date 4-27-2015 of 0.275 % or an adjustment factor of 1.0027455. This account held a long GOOG stock position at the close on 4-24-2015 of 25 GOOG shares. The account received a fractional GOOG stock amount of 0.0686 shares.
As IB does not allow holding fractional shares of stock in an account, it converts the fractional share to the cash equivalent. You will see this listed in the "Trades" section of your April 27, 2015 Activity Statement. This conversion is done automatically without any orders entered by the account holder.
Are Interactive Brokers accurate in their reports?
I question this as I was looking up my trade confirmations for the day and ran a report. I noticed there was a partial sell for a trade that I did not make. Could this be error in reporting? Or are they trying to skim off my Google shares!
Below is the evidence:
Also, I noticed they've made several revisions to my T3s & T5s after posting the forms on their website. If I didn't have to wait for my other T3s from Virtual Brokers, I would have reported the wrong amounts to CRA.
Anyways, sometimes best to keep in mind, brokerages are not always correct and I need to check on their work. If this "sell" transaction keeps on showing up on my report, I will inquire about this "phantom" trade to IB.
I checked my shares for GOOG and they are still intact unless they rounded it up and are deceiving me!!!!
Now, I'll have to open up my TWS to check on this. I will investigate.
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