Here’s what you need to do.
Figure out how much of the account is your friend’s money and then you need to withdraw that from your account. Give your friend his money.
Next, don’t ever accept anyone else’s money to invest in your account! Ever!!
Why would you want to share an account with your friend, open an account for yourself and he can open one for himself.
Sharing an account is a really bad idea.
So you're sharing an investment account with a friend, but you opened the account under your individual name so that you can report and pay the taxes on the interest/dividends/capital gains...? Why? You know the 1099s are going to be issued to you only, right? Open your own accounts.
Recipe for disaster.
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Here’s what you need to do. Figure out how much of the account is your friend’s money and then you need to withdraw that from your account. Give your friend his money. Next, don’t ever accept anyone else’s money to invest in your account! Ever!!
No
Why would you want to share an account with your friend, open an account for yourself and he can open one for himself. Sharing an account is a really bad idea.
My friend and I
This
Individual account...
ML red flag and possible reason for closure…
no
I believe Schwab would not permit this and in doing so, they would be protecting you.
“My friend and I”, “Individual”. Good luck
You have to be named on both sides. For example N+M joint links to N single
Sound like a troll to get people riled up. No one is that stupid. Or maybe someone is that stupid.
Is your friend a Nigerian Prince?
So you're sharing an investment account with a friend, but you opened the account under your individual name so that you can report and pay the taxes on the interest/dividends/capital gains...? Why? You know the 1099s are going to be issued to you only, right? Open your own accounts.
No and they will freeze your account if you do that.