According to all information on this subject, our club officers i.e. Treasurer, President etc. Should be able to change the TMP when doing the tax interview. No page comes up inviting us to make the change. Everything else works just fine but we cannot find ...
Our club owned Grant Prideco when it merged with National Oilwell Varco. As a result of the merger the club received $2320 as return of capital. Our 1099 from the broker lists this return of capital in Box 1 and the amount is included in ...
As admiinister of our club do i send form 1065 & the k-1 for each member to the IRS without any tax payment and then later send my share of the taxes when i do my personal tax return. Or should i send form 1065 ...
Thanks Original Message From: iras1 <iras1@aol.com> Sent: Monday, February 09, 2009 6:01 PM To: The Club Cafe <club_cafe@bivio.com> Subject: Re: club_cafe: state return Yes there is a special rule for investment clubs. It's stated clearly in the instructions for Form D-403. Ira Smilovitz In a ...
Instructions say "The withdrawal reports which follows should be distributed to the members for use in completing their 1040 Schedule D." Then there is two separate reports - one for each member we had withdraw from the club this year. Are these the only two ...
I've generated the 1065 for our club and the qualified dividend amount does not match with Ameritrade's 1099. I'm $.99 off - Ameritrade is showing $.99 more. I've gone through and checked all the transactions in Ameritrade to match what is in Bivio and I ...
Hi, This my first year using Bivio for taxes. I always used to use Code #525990, but Bivio is putting in Code #523910. Which one is correct? Will it matter if I change from what I've been using previously for the club? Thanks! Janet
Ira said: The professional partnership software used by most CPAs doesn't prepare an accurate investment club return because each item of income and expense during the year is allocated differently, based on the ownership shares on that date. That's sort of what I was thinking. ...
On the member tax allocation report, the dividends are separated into ordinary and qualified. But on the K1 2008 tax forms, they are summed together. The same total then appears in 6a and 6b so that I cannot tell the difference between qualified and ordinary. ...
i have been using bivio for almost a year. i am confused regarding the valuations. i do the books every month and value our investments before each meeting per our articles. when i checked the valuations for the year of 2008 it only shows 2 ...
Hi my club had a combind $1.01 between dividends and interest for the year. Does are club need to file a 1065 and each member a K-1 for there portion of that? Thanks
So we became a club a few days ago with everyone contributing the same amount to start ($240). We have one more member who wants to join but our stocks have already had some gains. If he contributes the same $240 he will actually have ...