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Cautionary tale on using Chase bank for indie business

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Re: Cautionary tale on using Chase bank for indie business

#281

Similar experience: Citibank Retirement. I had about $80,000 in IRA/CD's. I'd created & contributed to them over a period of 35 years. Last year, it's time to retire, and Citibank won't give me half the money. It seems that some CD's are for "Cliff Stoll" and some for "Clifford Stoll". Citibank Retirement demanded a "Marriage Certificate, Divorce Decree, or Court Order" to demonstrate that "Cliff Stoll" is the same p…

Off-topic: I loved “The Cuckoo’s Egg”, was part of what influenced me to get a CS degree. Fantastic read.

Read it. Word. Great book.-

Re: Cautionary tale on using Chase bank for indie business

#282
post #91
post #62

I've never used JP Morgan or Chase, but I recently inherited some stock. There was no way to transfer the stock in-kind to another brokerage, for some reason it needed to go from a JP Morgan account to another JP Morgan account. (I didn't want to cash the stock out immediately because I couldn't get info on the basis and what the capital gains taxes would be). Anyway, sibling knew someone who worked at JP Morgan priv…

Isn't your basis simply the price of the stock on the day your rich uncle died? What other information did you need?

That's basically what it is, but for some reason it took some time for the folks at Jp Morgan to figure it out. Probably because the person involved died years ago? I dunno....
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