Moving DRIPs for Transfer Agent to Bank Trading Account

[bobby clobber]

Hi

you might of seen my previous recent post.

I am planning for retirement.

If i end my DRIP program with the Transfer Agent and move the shares to TD Waterhouse Trading account, is there a capital gain due when the transfer occurs? In other words, closing your DRIP program with the Transfer agent and moving them to a broker account is that like you actually sold the shares of the company you drip or is it seen as a transfer only with no tax implications

bob

[Stuart MacDonald]

You'll have to sell the fractional parts of the shares, which will incur tax consequences. There's no way to avoid that.

Transferring the shares will just be a transfer. You haven't sold them, so there are no tax consequences.