It's an interesting spreadsheet, but I see problems. I'll explain them in general terms here, but if the data in the spreadsheet is real data (albeit with disguised names), please contact support@bivio.com so we can address the specifics.

Column B - if this is the 12/31/xx percentage, it's inappropriate to use for the calculations unless you used the same percentage for the federal K-1. (In other words, this percentage is only appropriate for non-time base allocations. Otherwise each transaction through the year should be allocated according to the ownership percentage on the date of the transaction and all of the allocations totaled.

Specifically for each member, C = sum of federal K-1 (5) and (6a) less adjustments for US Govt interest, and MA bank interest; D+E=H; F=I.

Columns D and E - It's not clear whether the club had no STCGs (column D) or you used the net STCL in column E. The correct treatment is to separate the STCGs from the STCLs and report them separately on lines 3K-1 (13) and (14).

Column M is wrong and does not flow to both 3-K1 lines 25 and 26. The correct entry for 3-K1 line 25 is C+D+E+F. The correct entry for 3-K1 line 26 is federal K-1 (5)+(6a)+(8)+(9a)+(11)-(13 [all codes])+/-(18 [all codes])

Your spreadsheet doesn't account for the impact of withdrawals on the allocations, particularly on gains/losses. Someone who makes a withdrawal during the year could have very different entries for D, E and F than the rest of the club if the pattern and size of gain vs. loss is different before and after the withdrawal.

Thank you for sharing this.

Ira Smilovitz

On Wed, Mar 4, 2015 at 10:10 AM, Dave Chanoux <dchanoux@scanningdevices.com> wrote:

Hello,

Bivio does not prepare Massachusetts Form 3K, the state partnership return, probably because our state requires a lot of information not easily extracted from the Federal K-1.

We have built a spreadsheet which aids in calculating entries on the Massachusetts Form 3K-1 for club members. A sample is attached for anyone who wants to try it.

Dave Chanoux

Grotonwood Investment Club