Quick question: Why on step 3 of the audit, if the total of the dividends and interest match between the brokerage report and the Bivio report, why do we need to tie the detail dividends between the two reports also? With synchronization, how (or why) would the Treasurer make changes to dividend receipts? If stealing funds was the purpose, it would seem a big red flag would happen.
Peter Dunkelberger
Sumner Stock Selectors Investment Club
SB on
Perhaps a reason is that the brokerage firm has detailed different categories for the distribution but when initially imported, only the total was sent. Distributions from REITs can have several types of details in one distribution.
Quick question: Why on step 3 of the audit, if the total of the dividends and interest match between the brokerage report and the Bivio report, why do we need to tie the detail dividends between the two reports also? With synchronization, how (or why) would the Treasurer make changes to dividend receipts? If stealing funds was the purpose, it would seem a big red flag would happen.
Peter Dunkelberger
Sumner Stock Selectors Investment Club
Peter Dunkelberger on
Thanks for the response, but I don't know who "S" is. Are you from Bivio or with another club?
Perhaps a reason is that the brokerage firm has detailed different categories for the distribution but when initially imported, only the total was sent. Distributions from REITs can have several types of details in one distribution.
Quick question: Why on step 3 of the audit, if the total of the dividends and interest match between the brokerage report and the Bivio report, why do we need to tie the detail dividends between the two reports also? With synchronization, how (or why) would the Treasurer make changes to dividend receipts? If stealing funds was the purpose, it would seem a big red flag would happen.
Peter Dunkelberger
Sumner Stock Selectors Investment Club
ira smilovitz on
Peter,
Posts on club_cafe can be answered by any other member of club_cafe. Becky and Joanne (bivio support) always identify themselves as from bivio when they post. So, unless the reply is from Becky or Joanne (or me), you can assume it comes from another club. If you want to make sure you get an authoritative answer send your question to support@bivio.com.
I don't identify my posts as being from bivio because I only consult with bivio on certain tax matters. When I reply to a post on club_cafe, I am doing so based on my knowledge and experience as an Enrolled Agent, not as a representative of bivio.
Perhaps a reason is that the brokerage firm has detailed different categories for the distribution but when initially imported, only the total was sent. Distributions from REITs can have several types of details in one distribution.
Quick question: Why on step 3 of the audit, if the total of the dividends and interest match between the brokerage report and the Bivio report, why do we need to tie the detail dividends between the two reports also? With synchronization, how (or why) would the Treasurer make changes to dividend receipts? If stealing funds was the purpose, it would seem a big red flag would happen.
Peter Dunkelberger
Sumner Stock Selectors Investment Club
ira smilovitz on
You are more than welcome. I don't have any problems with people not identifying themselves on club_cafe. I was only trying to indicate that bivio personnel will identify themselves as such.
ID theft is a major issue and, as you unfortunately know, a bear to dig out from. You have my sympathy.
Good afternoon Ira
I did identify myself as just a club treasurer to Peter in a
private message. I have had an identity theft concern in the
past and if possible try and remain as unidentifiable as
possible. I would like to take this moment to thank you for
all the posts you have made over the years.
Regards,
Scott Freeman
Sheryl Story on
Because BIVIO does not always have the appropriate designation of all dividends (beyond REIT stuff)
Mutual funds often have a portion of the dividend as qualified, a portion as ordinary/unqualified and a portion as 199A
So edits need to be made in BIVIO so the tax return is correct.
Sent from my iPhone
Sheryl Story
On Feb 8, 2023, at 12:07 PM, Peter Dunkelberger via bivio.com <user*26984900001@bivio.com> wrote:
Thanks for the response, but I don't know who "S" is. Are you from Bivio or with another club?
Perhaps a reason is that the brokerage firm has detailed different categories for the distribution but when initially imported, only the total was sent. Distributions from REITs can have several types of details in one distribution.
Quick question: Why on step 3 of the audit, if the total of the dividends and interest match between the brokerage report and the Bivio report, why do we need to tie the detail dividends between the two reports also? With synchronization, how (or why) would the Treasurer make changes to dividend receipts? If stealing funds was the purpose, it would seem a big red flag would happen.
Peter Dunkelberger
Sumner Stock Selectors Investment Club
Peter Dunkelberger on
That is the tax portion, which I understand. The audit, at least Step 3, is concerned only with dollar amounts, timing and correspondence between the names of the stocks paying dividends between the brokerage report and the Bivio transaction list. There is nothing in that step that addresses qualified, non-qualified or capital gains distributions, just the total amounts of the dividends. My point is if the total of the dividends is correct between the brokerage and Bivio, comparing the detail is not useful.
Perhaps a reason is that the brokerage firm has detailed different categories for the distribution but when initially imported, only the total was sent. Distributions from REITs can have several types of details in one distribution.
Quick question: Why on step 3 of the audit, if the total of the dividends and interest match between the brokerage report and the Bivio report, why do we need to tie the detail dividends between the two reports also? With synchronization, how (or why) would the Treasurer make changes to dividend receipts? If stealing funds was the purpose, it would seem a big red flag would happen.