An alert club followed up on this email I sent in March to find out if there had indeed been any further adjustments that were made to the MDT dividends paid from April 2015 thru April 2016:
You'll need to make manual adjustments in bivio to reflect these changes or your cost basis and capital gains won't be right when you eventually sell your shares.
To reclassify a dividend, select the "Edit" link next to the dividend entry. If, for example a dividend is considered 71.34% return of capital, multiply the total amount you received on any specific date by .7134. That will give you the amount that needs to be entered as Return of Capital in bivio. The remaining amount should be entered as a Qualified Dividend in bivio. You'll be able to make both entries when you open the income entry form by selecting "Edit" next to the dividend transaction.
Note that there were estimates made for the purposes of preparing your 1099 forms for 2015 so you may have made some adjustments when you prepared your 2015 taxes on the dividends received in 2015. Those will need to also be adjusted to reflect the final breakdown.
Laurie Frederiksen Invest with your friends! www.bivio.com
When I review our Medtronics dividends/distribution, I come up with the same figures (estimates) provided by our broker on the 2015 (revised) 1099. Am I missing something or is this what it should be? I wonder what other clubs are finding.
Andy Hinds
Greyrock Investment Club
From: Laurie Frederiksen <laurie@bivio.biz> To: The Club Cafe <club_cafe@bivio.com> Sent: Monday, November 21, 2016 12:08 PM Subject: [club_cafe] Metronic (MDT) Tax Joy - Continued
An alert club followed up on this email I sent in March to find out if there had indeed been any further adjustments that were made to the MDT dividends paid from April 2015 thru April 2016:
You'll need to make manual adjustments in bivio to reflect these changes or your cost basis and capital gains won't be right when you eventually sell your shares.
To reclassify a dividend, select the "Edit" link next to the dividend entry. If, for example a dividend is considered 71.34% return of capital, multiply the total amount you received on any specific date by .7134. That will give you the amount that needs to be entered as Return of Capital in bivio. The remaining amount should be entered as a Qualified Dividend in bivio. You'll be able to make both entries when you open the income entry form by selecting "Edit" next to the dividend transaction.
Note that there were estimates made for the purposes of preparing your 1099 forms for 2015 so you may have made some adjustments when you prepared your 2015 taxes on the dividends received in 2015. Those will need to also be adjusted to reflect the final breakdown.
Laurie Frederiksen Invest with your friends! www.bivio.com
The final information from MDT was posted on May 27, 2016. If you got your revised 1099 after that, it should agree with the updated numbers.
In any case, your broker should have updated the cost basis they show for your MDT shares to reflect the final information when it came out. As long as the cost basis for each of your lots shown on this bivio report:
When I review our Medtronics dividends/distribution, I come up with the same figures (estimates) provided by our broker on the 2015 (revised) 1099. Am I missing something or is this what it should be? I wonder what other clubs are finding.
Andy Hinds
Greyrock Investment Club
From: Laurie Frederiksen <laurie@bivio.biz> To: The Club Cafe <club_cafe@bivio.com> Sent: Monday, November 21, 2016 12:08 PM Subject: [club_cafe] Metronic (MDT) Tax Joy - Continued
An alert club followed up on this email I sent in March to find out if there had indeed been any further adjustments that were made to the MDT dividends paid from April 2015 thru April 2016:
You'll need to make manual adjustments in bivio to reflect these changes or your cost basis and capital gains won't be right when you eventually sell your shares.
To reclassify a dividend, select the "Edit" link next to the dividend entry. If, for example a dividend is considered 71.34% return of capital, multiply the total amount you received on any specific date by .7134. That will give you the amount that needs to be entered as Return of Capital in bivio. The remaining amount should be entered as a Qualified Dividend in bivio. You'll be able to make both entries when you open the income entry form by selecting "Edit" next to the dividend transaction.
Note that there were estimates made for the purposes of preparing your 1099 forms for 2015 so you may have made some adjustments when you prepared your 2015 taxes on the dividends received in 2015. Those will need to also be adjusted to reflect the final breakdown.
Laurie Frederiksen Invest with your friends! www.bivio.com
I know this is a late question How was the Medtronic merger
capital gain to be recorded in Bivio?
Debi
Laurie Frederiksen on
MDT's move overseas was a taxable re-domicile reorganization. On 1/26/2015, you should have entered a sale of your MDT shares for $76.95 per share followed by a purchase on the same date of MDT for $76.95.
You would have had a capital gain from this change to report on your 2015 taxes.
Laurie Frederiksen Invest with your friends! www.bivio.com
On Thu, Dec 1, 2016 at 3:15 PM, Deborah J. Rollins-Thorne <noellets1@msn.com> wrote:
Laurie..
I know this is a late question How was the Medtronic merger
capital gain to be recorded in Bivio?
Debi
Andrew Hinds on
Sorry I didn't clearly say that I was referring to the 2015 figures: the "final" percentages and the 2015 estimates on our revised 1099 only differ by a few cents. Whew! No need for an 2015 amended return.
From: Laurie Frederiksen <laurie@bivio.biz> To: The Club Cafe <club_cafe@bivio.com> Sent: Tuesday, November 29, 2016 1:52 PM Subject: Re: [club_cafe] Metronic (MDT) Tax Joy - Continued
Hi Andy,
The final information from MDT was posted on May 27, 2016. If you got your revised 1099 after that, it should agree with the updated numbers.
In any case, your broker should have updated the cost basis they show for your MDT shares to reflect the final information when it came out. As long as the cost basis for each of your lots shown on this bivio report:
When I review our Medtronics dividends/distribution, I come up with the same figures (estimates) provided by our broker on the 2015 (revised) 1099. Am I missing something or is this what it should be? I wonder what other clubs are finding.
Andy Hinds
Greyrock Investment Club
From: Laurie Frederiksen <laurie@bivio.biz> To: The Club Cafe <club_cafe@bivio.com> Sent: Monday, November 21, 2016 12:08 PM Subject: [club_cafe] Metronic (MDT) Tax Joy - Continued
An alert club followed up on this email I sent in March to find out if there had indeed been any further adjustments that were made to the MDT dividends paid from April 2015 thru April 2016:
You'll need to make manual adjustments in bivio to reflect these changes or your cost basis and capital gains won't be right when you eventually sell your shares.
To reclassify a dividend, select the "Edit" link next to the dividend entry. If, for example a dividend is considered 71.34% return of capital, multiply the total amount you received on any specific date by .7134. That will give you the amount that needs to be entered as Return of Capital in bivio. The remaining amount should be entered as a Qualified Dividend in bivio. You'll be able to make both entries when you open the income entry form by selecting "Edit" next to the dividend transaction.
Note that there were estimates made for the purposes of preparing your 1099 forms for 2015 so you may have made some adjustments when you prepared your 2015 taxes on the dividends received in 2015. Those will need to also be adjusted to reflect the final breakdown.
Laurie Frederiksen Invest with your friends! www.bivio.com