Dividend paid in 2024 for 2023 - how to enter into bivio?
Daniel Lapp on
On our club's Schwab 1099 shows a dividend "Paid in 2024 for
2023". This dividend was not included in our club's 12/31/23
balance, but does show on the 1099-DIV. The transaction date
was 1/31/24 and bivio has the transaction with that date.
The tax return will not agree with the 1099 if I leave the
transaction in bivio with a date of 1/31/24, becuase it will
be missing that dividend.
If I change the date of the dividend to be in 2023, the
end-of-year balance will not be correct and will not agree
with Schwab.
My inclination is to change the transaction date to be 2023
so the tax return agrees with the 1099, and allow the
difference between the end-of-year balances (with an
explanation to members).
Any other suggestions?
Thanks,
Dan L.
ira smilovitz on
The easiest is to do is as you suggest and note in the memo field that the dividend was actually received in 2024. Another suggestion is to enter the dividend on 12/31/23, but deposited into a Suspense account. On 1/31/24 enter a transfer from Suspense to broker. This will keep your broker balance correct as well as your tax records.
On our club's Schwab 1099 shows a dividend "Paid in 2024 for
2023". This dividend was not included in our club's 12/31/23
balance, but does show on the 1099-DIV. The transaction date
was 1/31/24 and bivio has the transaction with that date.
The tax return will not agree with the 1099 if I leave the
transaction in bivio with a date of 1/31/24, becuase it will
be missing that dividend.
If I change the date of the dividend to be in 2023, the
end-of-year balance will not be correct and will not agree
with Schwab.
My inclination is to change the transaction date to be 2023
so the tax return agrees with the 1099, and allow the
difference between the end-of-year balances (with an
explanation to members).
Any other suggestions?
Thanks,
Dan L.
Daniel Kalina on
I agree
Dan K
Daniel Kalina
Educational Consultant
9350 Vercelli Street
Lake Worth, FL 33467
Tel: 561-318-8589
Cell: 631-987-5229
On our club's Schwab 1099 shows a dividend "Paid in 2024 for
2023". This dividend was not included in our club's 12/31/23
balance, but does show on the 1099-DIV. The transaction date
was 1/31/24 and bivio has the transaction with that date.
The tax return will not agree with the 1099 if I leave the
transaction in bivio with a date of 1/31/24, becuase it will
be missing that dividend.
If I change the date of the dividend to be in 2023, the
end-of-year balance will not be correct and will not agree
with Schwab.
My inclination is to change the transaction date to be 2023
so the tax return agrees with the 1099, and allow the
difference between the end-of-year balances (with an
explanation to members).
Any other suggestions?
Thanks,
Dan L.
Michael Grove on
I agree as well. We had the same thing happen in 2022/2023 and that is how I dealt with it. Seemed to work fine. If Bivio had a category for 2023 dividends paid in 2024 that would address the issue, maybe they can add that at some point. Schwab used to put out a corrected statement for the previous year when this happened, but no longer treat it that way.
On our club's Schwab 1099 shows a dividend "Paid in 2024 for
2023". This dividend was not included in our club's 12/31/23
balance, but does show on the 1099-DIV. The transaction date
was 1/31/24 and bivio has the transaction with that date.
The tax return will not agree with the 1099 if I leave the
transaction in bivio with a date of 1/31/24, becuase it will
be missing that dividend.
If I change the date of the dividend to be in 2023, the
end-of-year balance will not be correct and will not agree
with Schwab.
My inclination is to change the transaction date to be 2023
so the tax return agrees with the 1099, and allow the
difference between the end-of-year balances (with an
explanation to members).
On our club's Schwab 1099 shows a dividend "Paid in 2024 for
2023". This dividend was not included in our club's 12/31/23
balance, but does show on the 1099-DIV. The transaction date
was 1/31/24 and bivio has the transaction with that date.
The tax return will not agree with the 1099 if I leave the
transaction in bivio with a date of 1/31/24, becuase it will
be missing that dividend.
If I change the date of the dividend to be in 2023, the
end-of-year balance will not be correct and will not agree
with Schwab.
My inclination is to change the transaction date to be 2023
so the tax return agrees with the 1099, and allow the
difference between the end-of-year balances (with an
explanation to members).