Annoying editing Bivio dividend/interest review

Peter Dunkelberger on

Schwab has different terminology from the Bivio drop-down menu for editing dividends and interest. For instance, for our money market "dividends", the Schwab 1099 calls some of them a) nonqualified, which is not an item on the Bivio drop down menu for editing, and b) Schwab has a very small amount which it calls "short term capital gain", which is also not included on the drop down menu for editing the dividends and interest. I am going to presume that "ordinary dividends" is as accurate as I need to be, but it would be helpful if Bivio used the same terminology.

Peter Dunkelberger

Michelle Gadberry on

https://www.fool.com/terms/n/nonqualified-dividends/#:~:text=A%20nonqualified%20dividend%20is%20one,ordinary%20income%20by%20the%20IRS.

My understanding is that the terms are interchangeable. They are "ordinary income".

A short term capital gain is not a dividend. It is the gain you make when you sell in less than a year and is taxed at a higher rate than a long-term gain of capital. Your 1099 - B from Bivio should match with that.

Michelle

Central KY Investment Club

On Mon, Feb 26, 2024 at 3:47 PM Peter Dunkelberger via bivio.com <user*26984900001@bivio.com> wrote:

Schwab has different terminology from the Bivio drop-down menu for editing dividends and interest. For instance, for our money market "dividends", the Schwab 1099 calls some of them a) nonqualified, which is not an item on the Bivio drop down menu for editing, and b) Schwab has a very small amount which it calls "short term capital gain", which is also not included on the drop down menu for editing the dividends and interest. I am going to presume that "ordinary dividends" is as accurate as I need to be, but it would be helpful if Bivio used the same terminology.

Peter Dunkelberger

Peter Dunkelberger on

I agree, but Schwab called part of the money market "dividend" a short term capital gain and Bivio does not have that terminology in the drop down menu. Schwab could be wrong, but...?

Peter Dunkelberger

On Mon, Feb 26, 2024 at 4:32 PM Michelle Gadberry via bivio.com <user*21289400001@bivio.com> wrote:

https://www.fool.com/terms/n/nonqualified-dividends/#:~:text=A%20nonqualified%20dividend%20is%20one,ordinary%20income%20by%20the%20IRS.

My understanding is that the terms are interchangeable. They are "ordinary income".

A short term capital gain is not a dividend. It is the gain you make when you sell in less than a year and is taxed at a higher rate than a long-term gain of capital. Your 1099 - B from Bivio should match with that.

Michelle
Central KY Investment Club

On Mon, Feb 26, 2024 at 3:47 PM Peter Dunkelberger via bivio.com <user*26984900001@bivio.com> wrote:
Schwab has different terminology from the Bivio drop-down menu for editing dividends and interest. For instance, for our money market "dividends", the Schwab 1099 calls some of them a) nonqualified, which is not an item on the Bivio drop down menu for editing, and b) Schwab has a very small amount which it calls "short term capital gain", which is also not included on the drop down menu for editing the dividends and interest. I am going to presume that "ordinary dividends" is as accurate as I need to be, but it would be helpful if Bivio used the same terminology.

Peter Dunkelberger

John W Ranby Trustee PGM Cariboo Trust on

Peter:

Your problem stems from the fact that you did not categorize
the money market account accurately. It should be
categorized as "bond, money market" on the setup page for
the investment. If you set it up correctly, the choices in
the drop down will provide more choices than if you
categorize it as a "stock." "Non-dividend, Return of
capital" will be one of the choices.

Also, the dividends from the money market account will
appear on a different line of the 1065 and not be mixed in
with the dividends from stocks. It will cause your 1099
figures to match.

Go to the "Investment" page where your holdings are listed.
Toward the right, you will see "info. Click on that and the
page will appear where you can change the categorization of
the holding.

Jack.

John W Ranby Trustee PGM Cariboo Trust on

Peter:

I meant to say "Short-term capital gain" will also be a
choice.
Jack

Peter Dunkelberger on

I agree, but it ain't there on the drop down menu. Maybe there is some magic I could do to make it show up on the report, but it is only 3 cents, and I have already put in more effort than it is worth. I am just surprised that is a problem.

Peter Dunkelberger

On Mon, Feb 26, 2024 at 6:16 PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote:

Peter:

I meant to say "Short-term capital gain" will also be a
choice.
Jack

Peter Dunkelberger on

Thanks. I responded to your later email before I saw this one. I will check those instructions and see what happens. Thanks very much for the information.

Peter Dunkelberger

On Mon, Feb 26, 2024 at 6:14 PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote:

Peter:

Your problem stems from the fact that you did not categorize
the money market account accurately. It should be
categorized as "bond, money market" on the setup page for
the investment. If you set it up correctly, the choices in
the drop down will provide more choices than if you
categorize it as a "stock." "Non-dividend, Return of
capital" will be one of the choices.

Also, the dividends from the money market account will
appear on a different line of the 1065 and not be mixed in
with the dividends from stocks. It will cause your 1099
figures to match.

Go to the "Investment" page where your holdings are listed.
Toward the right, you will see "info. Click on that and the
page will appear where you can change the categorization of
the holding.

Jack.

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