My mind is reeling with respect to how Scottrade handled the year end distribution from GPROX and I'm wondering if any of you readers have a similar experience with either your brokerage firm of choice or even with Grandeur Peak proper. Forgetting for now that none of their math computes, or my two calculators are wrong, I am curious as to how they decide to calculate the various classes of distribution income (dividends, long-term and short-term capital gains) on differing numbers of shares.
To wit: Scottrade starts with the number of shares that I held in my account on the day the distributions were paid. They multiply the dividend and the 'short' term capital gain distribution by that number of shares. They then add the number of shares that I receive from the STCG calculation to my original number of shares to compute the number of shares by which to multiply the 'long' term capital gain distribution amount. Huh? And why wouldn't you also add in the shares one receives from the dividend calculation? Or just use the original number of shares? I'm confused or just stupid, take your pick.
Anyway I'm seeking enlightenment. Happy New Year. I can wait.
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