amended brokerage statements
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amended brokerage statements We use Schwab for our brokerage. They issued an amended statement. How long will it take Bivio to update the 1065, so we can file an original 1065 instead of a 1065 and an amended. We need to have member ownerships correct as we have to pay out a member by Monday. Dear Judith, If you received an updated statement from your broker, you will need to update your bivio records to reflect whatever changes were made. That will happen as quick as you can work on your bivio records Then, you should retake the partnership tax interview to regenerate your tax forms to reflect the updated information. If you have already filed your taxes and distributed K-1's to your members, you will need to file an amended return and distribute amended K-1's. If they have filed their personal taxes already, this may mean they also need to file amended personal returns. If you haven't filed your taxes yet. Just update your records to reflect the amended information and rerun the tax program before you file. Laurie Frederiksen
Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe On Wed, Mar 13, 2013 at 10:43 AM, JUDITH HARDIE <tnjhardie@msn.com> wrote: We use Schwab for our brokerage. They issued an amended Ok, I finally got in. The dividends have changed via Schwab. Retaking the interview did not update them. We had some of our dividends changed to nontaxable distributions. I thought it would be automatic via the records FROM Schwab. Where do I go to change them to match Schwab? So far we have not filed our taxes so we are not dealing with amended returns for our members. Date: Wed, 13 Mar 2013 11:12:30 -0400 From: laurie@bivio.biz Subject: Re: [club_cafe] amended brokerage statements To: club_cafe@bivio.com Dear Judith, If you received an updated statement from your broker, you will need to update your bivio records to reflect whatever changes were made. That will happen as quick as you can work on your bivio records Then, you should retake the partnership tax interview to regenerate your tax forms to reflect the updated information. If you have already filed your taxes and distributed K-1's to your members, you will need to file an amended return and distribute amended K-1's. If they have filed their personal taxes already, this may mean they also need to file amended personal returns. If you haven't filed your taxes yet. Just update your records to reflect the amended information and rerun the tax program before you file. Laurie Frederiksen
Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe On Wed, Mar 13, 2013 at 10:43 AM, JUDITH HARDIE <tnjhardie@msn.com> wrote: We use Schwab for our brokerage. They issued an amended |
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