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Bivio tax question
I have been a long time member of Poors Pupils for many years. In the last couple of years we have had members pass away who have also been members for many years with assets of well over $100,000.00. We have been a successful club ...
22 messages
Death of member and transfering of stocks
Our club mandates that every member must have an account with our broker , so that in the event of a death , we would be able to do a withdrawl by directly transfering stocks to their broker account. At this point as treasurer, I ...
1 message
Partner moved to Canada
One of our club's partners moved to Canada in August of 2020. She has left the club and we paid her out in full in October. Is she considered a foreign partner when I prepare our club taxes?
2 messages
Best way to mail tax return to IRS or State
Do you have to go to the post office for certified or registered mail? Or is there a way to do it online? our post office is very small and very busy. Almost always a long line. I can pay for and print the label ...
17 messages
Foliofn - InteractiveBrokers Acoount transfer
Having issues gaining access to our InteractiveBrokers account into which our Foliofn stocks were transferred. I can only access the Application Status page on InteractiveBrokers webpage. Have called InteractiveBrokers call Center and they keep telling me the account should be approved in 2-3 days and ...
6 messages
Possible Foreign Tax Implications
My club is formed in Colorado and has only domestic members. I have a US citizen who currently resides in the Netherlands for work (may be permanent) and is very interested in joining the club. Would I have to worry about any foreign tax implications?
5 messages
Club based in NY, filing requirements for out of state residents
Our club is based in NY but with members across a few different states. I was under the assumption that non-NY residents do not need to file NY state tax returns but a few members have expressed concern over this. Am I correct that only ...
7 messages
Fed 1065 acceptance status
Howdy clubs. Newby club and treasurer here - Investly. So we filed our federal 1065 and have confirmation that the return has been received. Q1. How can I check when IRS has processed it successfully. Is there a "where's my refund" equivalent for 1065 forms? ...
3 messages
Best way to mail tax return to IRS or State
We are a club based in NY , Is it better to send out Federal and state taxes Via Priority mail that is Tracked or certified mail with signature . thank you Anat benjamin (alchemy Investment club)
2 messages
1099 dividend reporting
Turns out it's not very complicated, and I've written it up for our Treasurer to follow, including specific examples from our 1099 and Bivio. For the ETF's with foreign taxes, foreign tax and qualified dividend are entered as provided on 1099. Ordinary in Bivio is ...
1 message
Ohio Club with Kentucky and Arizona members
What tax requirements are there for this topic. Thank you.
6 messages
1099 dividend reporting
Our club invests in ETF's only. Our 1099 shows Total ordinary dividends, qualified dividends, 199A dividends, and foreign tax paid. Accountsync shows the total dividend received so I have to edit to separate out the various amounts. When entering the values, should Total in Bivio ...
1 message
Change of Broker & Local Bank Account
As a result of Folio ousting investment clubs, we have had to find a new broker at year end and in a pandemic.A Our club has also made the decision to open a local bank account for members will set up their recurring deposits.A The ...
27 messages
Warrants
My club owned Occidental Petroleum (OXY) and in July, 2020 OXY distibuted warrants (OXY+), We sold all the stock plus the warrants in 2020. I cannot get the warrants recorded correctly in Bivio. (I'm using the spin-off button in the OXY investment.) The numbers are ...
4 messages
NJ Partnership Filing Fees
All: I have a question about the investment club exception for partnership filing fees in New Jersey. New Jersey Rev Stat § 54A:8-6 requires a partnership with New Jersey resident partners to file a NJ-1065 partnership return, even if the partnership operates in another state ...
8 messages