@PeterA
āThe return of capital is no different than the behaviour followed when you close your position - you see the profit or loss in the result and the capital that you have invested (+/- the result) is returned to your account.ā
wellā¦it doesnāt justify the lack of transparency and clarity of holding customersā accounts, does it?
@PeterA I understand what you are saying here, and even potentially agree with you. The transaction may well be essentially the same as normal.
The issue is, that because it was automatic, a LOT of people didnāt see that transaction happen, as such orders were placed and the money moved before people realised.
I expect T212 to have been honest and that the money was placed there and all our accounts are correct, but currently there is no proof that this happened and mistakes happen
All we are asking for is some verification.
A current UK news story is of a lady who returned a Ā£9.00 garment but was refunded Ā£90,000 by accident. Ultra rare occurrence, for sure, but financial systems are not infallible either!
I couldnāt find the money released to free funds either. I assume it was released as cash to the pies where I held the fractional shares and that this cash has been re-invested again.
However, Iām very curious how I report this to my countryās tax authorities given the fact I have to state not only the net result (profit / loss) but both the buy / sell price.
Well I would say, they were āsoldā on same price as bought. 0 profit or loss directly from transaction. The withdrawal/deposit is used by T212 as tool for profit/loss, thus no tax implications.
Iām afraid itās not like this as the FAQ says
The fractions were sold-off at the last available trading price/split coefficient.
see here
However, I might be able to reconstruct the transaction amount if I figure out the number of shares I had based on the monthly statements I had received.
Itās just more complicated than it needs to be.
Well, I would say this is the amount you received.
If you check your deposits, you get +X$ being the profit of this investment, thus the real āsellā price that you have towards legal/tax is equal to average buy.
legal-tax price(average buy) + (Deposit/number of shares) = last available trading price
If youāre country has FIFO, then you would have to go check each buy transaction and that would be your sell prices.