Transfer Agent stock transfers
My attorney ex-husband has a bad
habit of vesting stock in my name
without my knowledge. I recently
had a broker get my Transfer Agent
Holder Account and I found several
transfers. Is there an IRS issue with
these transfers? Is it legal for him to
use people this way. He is an
''issuer''. My research thus far on TAs
shows they have -0- accountability.
The TA and ex are obviously in bed
together. They said their computer
crashed with my eMails asking Qs of
them about the transfers.
1 Answer from Attorneys
Re: Transfer Agent stock transfers
I believe you have a problem in this case. The IRS determines an individual's tax liability by the information sent them by various companies. The IRS for example, obtains records on stock sales. If no stock purchase is ever recorded the IRS will assess the sale as 100% profit with a 0 cost basis.
As such you might get hit with tax on a stock sale you never had anything to do with. It appears I would have an attorney get involved to verify no authorization was ever given for the purchase nor sale under your name. Once this was accomplished I would suggest that the entity in question issue modified stock sale reports showing no transactions to you, and transactions to the proper party.
Jeff Moffatt callifany questions6619456121
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