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Sell It In May and Go Away?
Has anybody else out there found this? For the past several years, and it's happening again this year, I'm an investing genius during March and February. My portfolio is way up. Of course, who wants to sell then? Things always do seem to fall back ...
4 messages
Qualified dividends
Our club has 3 foreign stocks. How do I find out if the dividends are qualified or unqualified so that I can enter that info into your tax questionaire? Do you think the TDAmeritrade statement will have that info when it comes out later in ...
5 messages
Regarding FIFO vs. Avg. Cost Basis on Funds
Almost, but not quite. If you used average cost basis for mutual fund shares which you sold prior to 2012, you have (had) to continue to use average cost basis. If you sold some shares using FIFO or specific lot identification, you can switch to ...
1 message
Regarding FIFO vs. Avg. Cost Basis on Funds
There is no such IRS rule. FIFO is the default. You may have things backwards. If you switch to average cost basis, you must continue to use average cost basis for all holdings of that security. There is no tax code requirement that every holding ...
2 messages
Regarding FIFO vs. Avg. Cost Basis on Funds
It doesn't matter in tax-deferred accounts since there are no capital gains in those accounts. Any distributions will be taxed based on the value of the distribution reduced by any allocation of basis in the account to that distribution. Note that basis in a tax-deferred ...
6 messages
Regarding FIFO vs. Avg. Cost Basis on Funds
Hi folks, For those of you who are figuring out the new rules, I would like your comments. I just spoke w/Vanguard where my husband and I have the bulk of our retirement funds in tax-deferred accounts. I was guided to our account set up ...
2 messages
Question on Stock
Hi All - My club is looking at purchasing Seadrill Limited (SDRL) and I want to make sure this stock won't cause us any weird tax problems. Any info would be appreciated. Thank you! Andy
2 messages
Where To Send Your Tax Forms
Since the filing addresses aren't PO Boxes, you should be able to use the same address. However, why would you want to use Fedex or UPS at higher cost than sending it via USPS first class, certified mail? Ira Smilovitz In a message dated 2/6/2012 ...
1 message
Where To Send Your Tax Forms
Hello everyone, If you have any questions, here is a direct link to information about where to send your tax forms: https://www.bivio.com/site-help/bp/Investment_Club_Taxes_Filing_Address_Help For future reference, you can also find this link on our help page under t for Taxes. -- Laurie Frederiksen Invest with your ...
2 messages
Utah State Taxes
Hi All - Just a couple quick questions as we get into tax season - 1) Does an investment club have to register a DBA in Utah? 2) Does an investment club have to file a Utah State partnership tax return or is it only ...
3 messages
Accounting seminars offered in Jan.
Last year I watched the acct. seminars in January but was unable to this year. Is there a site where I access the ones this past January to refresh my memory? Flo Primrose
2 messages
Club Audit Items - ADR Fees, Cash Liquidation
A quick search didn't turn up any corporate events that would have affected your holdings in CBD on 5/12/11, so I can't help you there. ADR fees are associated with receiving dividends on ADR holdings, not the purchase/sale of the shares. Ira Smilovitz In a ...
2 messages
Club Audit Items - ADR Fees, Cash Liquidation
ADR fees are deductible expenses. Cash liquidation is probably cash-in-lieu for fractional shares in a merger, but it could be something else. Could you provide specifics about that transaction? Ira Smilovitz In a message dated 2/3/2012 1:58:35 P.M. Eastern Standard Time, ldelmolino@comcast.net writes: In performing ...
2 messages
Club Audit Items - ADR Fees, Cash Liquidation
In performing our year end club audit, I came across a couple of items that I'm not familiar with - they are very small amounts and I simply want to have a better understanding of what they are. One is an expense item labeled "ADR ...
2 messages
Value Unlisted
Our club recently purchased Intel (INTC). However, its prices are not being updated automatically (i.e. I have to update it as "value unlisted"). I do know that we owned it a long time ago and I think I remember there is/was a bug related to ...
2 messages