Collectables (28% rate) tax

Adam G Barr on

Bivio,

We own the Permanent Portfolio (PRPFX) and received a
capital gain distribution that was classified as a
"collectable" (28% tax rate) on the 1099. When reconciling
my Bivio records from the 1099 from TD Ameritrade I was able
to reconcile every amount except for this as there is no
category for "collectables" to choose from when entering a
transaction. Thoughts?

Thanks,

Adam Barr

Laurie Frederiksen on

Hi Adam,

Unfortunately that is a problem. That is a type of income that you cannot account for using bivio. The fund must invest in some sort of commodity like silver or gold. Those gains are taxed at a different rate than other gains. You'll need to make some manual adjustments to accomodate the income on your tax forms. Email us at support@bivio.com with the details and we may be able to give you some further guidance on what you need to do.

Laurie Frederiksen
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On Tue, Feb 18, 2014 at 5:38 PM, Adam G Barr wrote:

Bivio,

We own the Permanent Portfolio (PRPFX) and received a
capital gain distribution that was classified as a
"collectable" (28% tax rate) on the 1099. When reconciling
my Bivio records from the 1099 from TD Ameritrade I was able
to reconcile every amount except for this as there is no
category for "collectables" to choose from when entering a
transaction. Thoughts?

Thanks,

Adam Barr

Shane Thompson on

Hello,

Has there been any update to functionality to allow for
accounting of "collectibles"?

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