Annoying editing Bivio dividend/interest review
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Annoying editing Bivio dividend/interest review Schwab has different terminology from the Bivio drop-down menu for editing dividends and interest. For instance, for our money market "dividends", the Schwab 1099 calls some of them a) nonqualified, which is not an item on the Bivio drop down menu for editing, and b) Schwab has a very small amount which it calls "short term capital gain", which is also not included on the drop down menu for editing the dividends and interest. I am going to presume that "ordinary dividends" is as accurate as I need to be, but it would be helpful if Bivio used the same terminology. Peter Dunkelberger https://www.fool.com/terms/n/nonqualified-dividends/#:~:text=A%20nonqualified%20dividend%20is%20one,ordinary%20income%20by%20the%20IRS. My understanding is that the terms are interchangeable. They are "ordinary income". A short term capital gain is not a dividend. It is the gain you make when you sell in less than a year and is taxed at a higher rate than a long-term gain of capital. Your 1099 - B from Bivio should match with that. Michelle Central KY Investment Club On Mon, Feb 26, 2024 at 3:47 PM Peter Dunkelberger via bivio.com <user*26984900001@bivio.com> wrote:
I agree, but Schwab called part of the money market "dividend" a short term capital gain and Bivio does not have that terminology in the drop down menu. Schwab could be wrong, but...? Peter Dunkelberger
Peter: Your problem stems from the fact that you did not categorize the money market account accurately. It should be categorized as "bond, money market" on the setup page for the investment. If you set it up correctly, the choices in the drop down will provide more choices than if you categorize it as a "stock." "Non-dividend, Return of capital" will be one of the choices. Also, the dividends from the money market account will appear on a different line of the 1065 and not be mixed in with the dividends from stocks. It will cause your 1099 figures to match. Go to the "Investment" page where your holdings are listed. Toward the right, you will see "info. Click on that and the page will appear where you can change the categorization of the holding. Jack. Peter: I meant to say "Short-term capital gain" will also be a choice. Jack I agree, but it ain't there on the drop down menu. Maybe there is some magic I could do to make it show up on the report, but it is only 3 cents, and I have already put in more effort than it is worth. I am just surprised that is a problem. Peter Dunkelberger On Mon, Feb 26, 2024 at 6:16 PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote: Peter: Thanks. I responded to your later email before I saw this one. I will check those instructions and see what happens. Thanks very much for the information. Peter Dunkelberger On Mon, Feb 26, 2024 at 6:14 PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote: Peter: |
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