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re: Robinhood stock lending
Posted on 7/21/22 at 10:14 pm to thunderbird1100
Posted on 7/21/22 at 10:14 pm to thunderbird1100
Since you seem knowledgeable, what about the dividend tax issue. Robinhood says something like “we’ll try to return stock to you before the dividend date” which didn’t seem like a strong commitment to me. I’m sure they are phrasing it the way their lawyer tells them but is this a problem for people in actual practice?
Thanks diseasefreeforall for the comment.
Thanks diseasefreeforall for the comment.
This post was edited on 7/21/22 at 10:16 pm
1
Posted on 7/21/22 at 10:33 pm to Drizzt
I've never had dividend stocks loaned out but it looks like if your dividend stock is loaned on the ex-dividend date you get what are called cash in lieu payments that's probably taxed as ordinary income. I'd say ask a tax pro to be sure but it may be tough to find one with expertise, my CPA knows nothing about fully paid lending programs.
Interactive Brokers guide to FPL
Interactive Brokers guide to FPL
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