Discrepancy between Bivio and Brokerage (Scottrade) account

Jeanne Tieken on

Re: South Shore Seniors Investment Club.

Laurie, we've got a major difference between figures shown on these two accounts on our 10/02/2015 sale of 35 shares of CAT.

It seems that Bivio assumes that the sale was FIFO. CAT was purchased in several small lots. In fact, Scottrade allow us to specify WHICH lots of sell. We indicated that the lots to sell were those purchased on 9/07/2012 (13 sh), and on 11/02/2012 (22 sh), rather than First in- First out.

Can you please help us make that adjustment to Bivio figures? Thank you.

Jeanne Tieken

Laurie Frederiksen on

Hi,

First a note.

Messages like this that pertain to specifics of your club's record keeping should be sent to support@bivio.com, not to everyone on this Club Cafe discussion list.

There may, however, be others on this list that have run into this issue and have this question so I will give you all a generic answer to it.

By default, lots in a sale are identified in bivio on a FIFO or First In First Out basis. If you have told your broker to use some other method of lot selection (which you need to do before the trade has settled), you'll need to manually edit the sale entry in bivio to identify the correct lots and make sure your capital gains and losses are reported correctly.

These are the steps you need to take to do that:

Changing Lot Selection For A Sale

Laurie Frederiksen
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On Wed, Nov 4, 2015 at 11:02 PM, Jeanne Tieken <jeannetieken@gmail.com> wrote:

Re: South Shore Seniors Investment Club.

Laurie, we've got a major difference between figures shown on these two accounts on our 10/02/2015 sale of 35 shares of CAT.

It seems that Bivio assumes that the sale was FIFO. CAT was purchased in several small lots. In fact, Scottrade allow us to specify WHICH lots of sell. We indicated that the lots to sell were those purchased on 9/07/2012 (13 sh), and on 11/02/2012 (22 sh), rather than First in- First out.

Can you please help us make that adjustment to Bivio figures? Thank you.

Jeanne Tieken

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