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Taxes with 2 1099s
Haven't received my TD 1099, only my Schwab, so haven't
tried to run taxes yet. But how will I handle 2 sets of
numbers. Will I be adding them to enter 1 number? The tax
presentation did not touch on what will be different for
those who switched brokers.
Our TDA 1099's came out several weeks ago.
Have you logged into Schwab and looked? They are also posted there under Statements and Tax Forms (along the top menu).


Linda





On Sun, Feb 18, 2024 at 10:09 AM Margit Hunt via bivio.com <user*22263100001@bivio.com> wrote:
Haven't received my TD 1099, only my Schwab, so haven't
tried to run taxes yet. But how will I handle 2 sets of
numbers. Will I be adding them to enter 1 number? The tax
presentation did not touch on what will be different for
those who switched brokers.
My club hasn't received our 1099 from TDA either 
Sent from my iPhone

On Feb 18, 2024, at 12:18 PM, Linda Glein via bivio.com <user*21345500001@bivio.com> wrote:


Our TDA 1099's came out several weeks ago.
Have you logged into Schwab and looked? They are also posted there under Statements and Tax Forms (along the top menu).


Linda





On Sun, Feb 18, 2024 at 10:09 AM Margit Hunt via bivio.com <user*22263100001@bivio.com> wrote:
Haven't received my TD 1099, only my Schwab, so haven't
tried to run taxes yet. But how will I handle 2 sets of
numbers. Will I be adding them to enter 1 number? The tax
presentation did not touch on what will be different for
those who switched brokers.
We found  our TDA 1099 on the Schwab site under Tax Statements. It was there weeks before the Schwab one way.  

Yes you would add them together.  The TDA 1099 covers the period earlier in the year before the switch over.  

To partially answer   my own question there is an adjustment column on the Form 8949 and a reason code, one of the reasons is an incorrect Basis.  

I do not yet know  how in the Bivio tax preparation process you enter the 1099 basis value and the adjustment to bring it in line with the Bivio  tax basis number







Sent from my iPhone

On Feb 18, 2024, at 12:24 PM, MARY FRAN NOVAK via bivio.com <user*7094300001@bivio.com> wrote:

My club hasn't received our 1099 from TDA either 
Sent from my iPhone

On Feb 18, 2024, at 12:18 PM, Linda Glein via bivio.com <user*21345500001@bivio.com> wrote:


Our TDA 1099's came out several weeks ago.
Have you logged into Schwab and looked? They are also posted there under Statements and Tax Forms (along the top menu).


Linda





On Sun, Feb 18, 2024 at 10:09 AM Margit Hunt via bivio.com <user*22263100001@bivio.com> wrote:
Haven't received my TD 1099, only my Schwab, so haven't
tried to run taxes yet. But how will I handle 2 sets of
numbers. Will I be adding them to enter 1 number? The tax
presentation did not touch on what will be different for
those who switched brokers.
Is it true that you add the 1099 numbers together for purposes of entering into the tax program? I'm asking because when I've done my personal taxes, each 1099 info is entered separately.

Lynda

On Sun, Feb 18, 2024 at 10:35 AM Gmail via bivio.com <user*22787000001@bivio.com> wrote:
We found our TDA 1099 on the Schwab site under Tax Statements. It was there weeks before the Schwab one way.

Yes you would add them together. The TDA 1099 covers the period earlier in the year before the switch over.

To partially answer my own question there is an adjustment column on the Form 8949 and a reason code, one of the reasons is an incorrect Basis.

I do not yet know how in the Bivio tax preparation process you enter the 1099 basis value and the adjustment to bring it in line with the Bivio tax basis number







Sent from my iPhone

On Feb 18, 2024, at 12:24 PM, MARY FRAN NOVAK via bivio.com <user*7094300001@bivio.com> wrote:

My club hasn't received our 1099 from TDA either
Sent from my iPhone

On Feb 18, 2024, at 12:18 PM, Linda Glein via bivio.com <user*21345500001@bivio.com> wrote:


Our TDA 1099's came out several weeks ago.
Have you logged into Schwab and looked? They are also posted there under Statements and Tax Forms (along the top menu).


Linda





On Sun, Feb 18, 2024 at 10:09 AM Margit Hunt via bivio.com <user*22263100001@bivio.com> wrote:
Haven't received my TD 1099, only my Schwab, so haven't
tried to run taxes yet. But how will I handle 2 sets of
numbers. Will I be adding them to enter 1 number? The tax
presentation did not touch on what will be different for
those who switched brokers.
The 1099(s) reflect the numbers that have been Account Synced into Bivio during the year. Those numbers are already in Bivio, you don't have to enter them from the 1099s. You just have to check to make sure your Bivio numbers match the 1099 numbers (collectively).

If they don't, then you need to figure out why and usually it requires a correction to the Bivio numbers.

Carole Jansen
Wise Investment Club

On Sun, Feb 18, 2024, 1:28 PM Lynda Feit via bivio.com <user*26876200001@bivio.com> wrote:
Is it true that you add the 1099 numbers together for purposes of entering into the tax program? I'm asking because when I've done my personal taxes, each 1099 info is entered separately.

Lynda

On Sun, Feb 18, 2024 at 10:35 AM Gmail via bivio.com <user*22787000001@bivio.com> wrote:
We found our TDA 1099 on the Schwab site under Tax Statements. It was there weeks before the Schwab one way.

Yes you would add them together. The TDA 1099 covers the period earlier in the year before the switch over.

To partially answer my own question there is an adjustment column on the Form 8949 and a reason code, one of the reasons is an incorrect Basis.

I do not yet know how in the Bivio tax preparation process you enter the 1099 basis value and the adjustment to bring it in line with the Bivio tax basis number







Sent from my iPhone

On Feb 18, 2024, at 12:24 PM, MARY FRAN NOVAK via bivio.com <user*7094300001@bivio.com> wrote:

My club hasn't received our 1099 from TDA either
Sent from my iPhone

On Feb 18, 2024, at 12:18 PM, Linda Glein via bivio.com <user*21345500001@bivio.com> wrote:


Our TDA 1099's came out several weeks ago.
Have you logged into Schwab and looked? They are also posted there under Statements and Tax Forms (along the top menu).


Linda





On Sun, Feb 18, 2024 at 10:09 AM Margit Hunt via bivio.com <user*22263100001@bivio.com> wrote:
Haven't received my TD 1099, only my Schwab, so haven't
tried to run taxes yet. But how will I handle 2 sets of
numbers. Will I be adding them to enter 1 number? The tax
presentation did not touch on what will be different for
those who switched brokers.
You add the numbers together. The partnership return doesn't have an equivalent to Schedule B on your personal return.

Ira Smilovitz

On Sun, Feb 18, 2024 at 4:52 PM Carole Jansen via bivio.com <user*8441200001@bivio.com> wrote:
The 1099(s) reflect the numbers that have been Account Synced into Bivio during the year. Those numbers are already in Bivio, you don't have to enter them from the 1099s. You just have to check to make sure your Bivio numbers match the 1099 numbers (collectively).

If they don't, then you need to figure out why and usually it requires a correction to the Bivio numbers.

Carole Jansen
Wise Investment Club

On Sun, Feb 18, 2024, 1:28 PM Lynda Feit via bivio.com <user*26876200001@bivio.com> wrote:
Is it true that you add the 1099 numbers together for purposes of entering into the tax program? I'm asking because when I've done my personal taxes, each 1099 info is entered separately.

Lynda

On Sun, Feb 18, 2024 at 10:35 AM Gmail via bivio.com <user*22787000001@bivio.com> wrote:
We found our TDA 1099 on the Schwab site under Tax Statements. It was there weeks before the Schwab one way.

Yes you would add them together. The TDA 1099 covers the period earlier in the year before the switch over.

To partially answer my own question there is an adjustment column on the Form 8949 and a reason code, one of the reasons is an incorrect Basis.

I do not yet know how in the Bivio tax preparation process you enter the 1099 basis value and the adjustment to bring it in line with the Bivio tax basis number







Sent from my iPhone

On Feb 18, 2024, at 12:24 PM, MARY FRAN NOVAK via bivio.com <user*7094300001@bivio.com> wrote:

My club hasn't received our 1099 from TDA either
Sent from my iPhone

On Feb 18, 2024, at 12:18 PM, Linda Glein via bivio.com <user*21345500001@bivio.com> wrote:


Our TDA 1099's came out several weeks ago.
Have you logged into Schwab and looked? They are also posted there under Statements and Tax Forms (along the top menu).


Linda





On Sun, Feb 18, 2024 at 10:09 AM Margit Hunt via bivio.com <user*22263100001@bivio.com> wrote:
Haven't received my TD 1099, only my Schwab, so haven't
tried to run taxes yet. But how will I handle 2 sets of
numbers. Will I be adding them to enter 1 number? The tax
presentation did not touch on what will be different for
those who switched brokers.