How to read a broker statement from TD Ameritrade?
Reading a broker statement from TD Ameritrade can seem complicated at first, but with a little know-how, you’ll be able to understand all the information it provides. Here’s a step-by-step guide on how to read a broker statement from TD Ameritrade:
1. **Statement Period:** The statement should clearly display the time period it covers, typically a month.
2. **Account Information:** Your account number, account type, and contact information should be listed at the top of the statement.
3. **Summary:** The first section typically gives an overview of your account, including total account value, cash balance, margin balance, and any recent activity.
4. **Transactions:** This section will list all transactions made during the statement period, including buys, sells, dividends received, and any fees or commissions.
5. **Positions:** Here, you’ll see a list of all the securities you currently hold in your account, along with the quantity, cost basis, and current market value.
6. **Cash Activity:** This section details any money going in or out of your account, including deposits, withdrawals, and interest earned.
7. **Margin Information:** If you have a margin account, this section will show your margin balance, buying power, and any margin calls.
8. **Account Balance:** A summary of your account balance at the end of the statement period, broken down by cash, securities, and total account value.
9. **Trade Confirmations:** Any trades executed during the statement period will have individual trade confirmations attached, detailing the trade price, quantity, and settlement date.
10. **Account Fees:** Any fees charged to your account, such as commissions, platform fees, or maintenance fees, will be listed in this section.
11. **Tax Information:** If applicable, TD Ameritrade will provide tax-related information on your statement, such as dividend income, capital gains, and interest earned.
12. **Contact Information:** Finally, the statement should include contact information for TD Ameritrade in case you have any questions or concerns about your account.
By following these steps and familiarizing yourself with the layout of a broker statement from TD Ameritrade, you’ll be able to effectively track your account activity and make informed decisions about your investments.
FAQs:
1. What should I do if I don’t understand something on my TD Ameritrade broker statement?
If you have any questions or need clarification on any part of your statement, don’t hesitate to contact TD Ameritrade’s customer service for assistance.
2. Can I access my broker statements online with TD Ameritrade?
Yes, you can access your broker statements online through your TD Ameritrade account portal.
3. How often will I receive a broker statement from TD Ameritrade?
TD Ameritrade typically sends out broker statements on a monthly basis, but you may opt to receive them more frequently if desired.
4. Are there any fees associated with receiving broker statements from TD Ameritrade?
TD Ameritrade does not charge a fee for sending out broker statements, as they are considered an essential part of account management.
5. Can I download and print my TD Ameritrade broker statements?
Yes, you can download and print your TD Ameritrade broker statements for your records or tax purposes.
6. How long should I keep my TD Ameritrade broker statements?
It’s recommended to keep your TD Ameritrade broker statements for at least seven years for tax and audit purposes.
7. Will my TD Ameritrade broker statement show realized gains and losses?
Yes, your broker statement will show any realized gains and losses from trades made during the statement period.
8. Can I customize my TD Ameritrade broker statement to include specific information?
TD Ameritrade offers customization options for your broker statements, allowing you to tailor the information displayed to your preferences.
9. What should I do if I notice an error on my TD Ameritrade broker statement?
If you spot any discrepancies or errors on your broker statement, contact TD Ameritrade immediately to have them rectified.
10. Does my TD Ameritrade broker statement include information on dividends received?
Yes, your broker statement will detail any dividends received during the statement period, including the amount and source.
11. How can I reconcile my TD Ameritrade broker statement with my own records?
To reconcile your broker statement with your own records, match each transaction listed on the statement with your own trade confirmations and account activity.
12. Is there a way to automate the process of reviewing my TD Ameritrade broker statements?
You can set up alerts and notifications within your TD Ameritrade account to stay informed about account activity without having to manually review statements regularly.