Communications
club_cafe
HelpRegister
(No Subject)

PLEASE!!! I need to be set free of club cafe also. It's beginning to drive me crazy. Help. I have tried. Tamarack Inv. Club


From: club_cafe@bivio.com <club_cafe@bivio.com> on behalf of Diane Griffiths via bivio.com <user*16729000001@bivio.com>
Sent: Thursday, March 9, 2023 7:25 PM
To: club_cafe@bivio.com <club_cafe@bivio.com>
Subject: Re: [club_cafe] K-1, Box 19

 

That link took me to the list of emails. No place to unsubscribe.

Diane

On Thu, Mar 9, 2023 at 4:36 PM robert davenport via bivio.com <user*18352200001@bivio.com> wrote:

http://www.bivio.com/club_cafe/mail.    Use this link to unsubscribe.



On March 9, 2023, at 5:29 PM, "Diane Griffiths via bivio.com" <user*16729000001@bivio.com> wrote:

I tried to remove myself and may have signed up again. Please remove me. If I should be  able to remove myself, please tell me how.

Thank you for all the good information here.

Diane Griffiths

On Thu, Mar 9, 2023 at 1:50 PM John Randall via bivio.com <user*17241700001@bivio.com> wrote:

Ira,

I am confused by your comments.  Are you saying I don't have to enter all the numbers on my K-1 into Turbo Tax? My withdrawal report shows the MV of the stock transferred to me as the $377,096.64 and my adjusted basis in the stock transferred to me as $ 216,552.57.  It also shows the club's cost basis in those shares as $64,384.82.  Those are the same numbers reported on my K-1 in Box 19 designated as C.   I know that when the shares transferred, my broker received the Club's cost basis for each stock.  

So going forward I assume if and when I sell those shares, I will have to adjust the cost shown by my broker 1099 up from the $64,384 to my adjusted basis of $216,553.  I don't want or need to show a gain this year on Schedule D.  So it comes down to what do I report using Turbo Tax. 

As a side note, may net gain for 2022 in the club was $102.54, but that was deducted from my club basis and does not report out as income in Turbo Tax.  I would appreciate any guidance you can give me.  Let me know if you'd like to see any pdf's of my K-1 documents.

John Randall           


From: club_cafe@bivio.com <club_cafe@bivio.com> on behalf of ira smilovitz via bivio.com <user*2883400001@bivio.com>
Sent: Thursday, March 9, 2023 12:58 PM
To: club_cafe@bivio.com <club_cafe@bivio.com>
Subject: Re: [club_cafe] K-1, Box 19

 

Neither of those numbers go on your personal tax return (at least not from the K-1). You need to enter the numbers from your withdrawal report on Form 8949/Schedule D. Note that the proceeds amount in 19A might be the same as the withdrawal proceeds.

Ira Smilovitz

On Thu, Mar 9, 2023 at 12:01 PM John Randall via bivio.com <user*17241700001@bivio.com> wrote:

What dollar amount should be reported on my tax return for
this item? There are 2 dollar amounts on the statement,
$64,384.82 club basis and $377,096.64 market value, but only
space for one amount in Turbo Tax. I would appreciate any
help you can give me. Thanks, John Randall