I have an IB account. Two questions:
1. I've seen adds for like 3.83% interest or something like that on cash balances. I set up my account a loooong time ago. Can it qualify for this? Do I need to so something to start getting that interest? That is better than putting your spare cash in short-term bond funds.
2. I have various closed end funds that pay dividends. But if you don't elect for them to be paid in cash, they will pay them in stock. Which stock is taxed just as if it had been cash. So I want the cash. Is is possible to make this election for all securities forever going into the future, so I don't have to go in each time a dividend is to be paid and elect cash instead of stock? That can be a real hassle.
Thanks!
sweetie, you’re going to need to have more than $10K in the account to qualify. Oh, the shame!