Bit Coin and Virtual Currency Tax Issues
Hi Everyone, The IRS just released guidance on taxation of transactions involving BitCoin and other types of virtual currency. Ira and I thought it was interesting. We thought some of you might find it interesting also: IRS Guidance on Taxation of Bitcoin and Virtual Currency ...
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do options get reported to irs by brokers
I thought it was 01/01/2013, but it looks like it was delayed till 01/01/2014? Is this correct? Thanks! Rich
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Member access to k-1s
The programmers need to go back to the drawing board because the whole website is difficult to navigate and definitely not logical nor intuitive. Linda Sent via the Samsung GALAXY S(R)4, an AT&T 4G LTE smartphone -------- Original message -------- From: Laurie Frederiksen Date:03/24/2014 11:33 ...
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Moving Files
Dear Stu, Thank you for your request. I will pass it along. In the meantime, here's an idea that might simplify things for you. If you store your SSG's for each company initially in their own folder, then it would only take one step to ...
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Profit Allocation percentage splitting
If i form investment club as LLC or LLP and it will be member managed but as I am a genious trader(ha ha!?) is it possible to split profits differently than capital allocation. Example 2 members club. Capital investment will be 50% each. but year ...
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Correction for LOWES Companies (LOW)
The Autumn Chase Women Investment Club sold 69 shares of LOW stock on 02/06/13 and retained 7.778 shares. The shares held and price per unit/share agree in Bivio and Broker as of 2/28/14. The total cost and market value differ. Bivio's total cost is $175.67 ...
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Quest For Positive Relative Returns
Your Quest for Positive Relative Returns graphs have been updated through the start of the year. We are now in the process of updating them through May 1. If your investment club graph hasn't been updated yet, let me know and we'll move you up ...
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2 Quick and Simple Things
As you can imagine, we get a lot of questions this time of year as clubs prepare for tax preparation. That is good. We are glad people are working to correct their records so they won't file incorrect taxes. But there are sometimes issues that ...
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Member withdrawal payment method
On rare occasion we have a member of our club withdraw. The majority of our members prefer to pay out in cash instead of selling or transferring stock to process the withdrawal. Lately we have been discussing setting aside a portion of our monthly dues ...
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Tax Forms
I just ran a draft copy of my investment club 1065 for review. It included the 1065, Schedule D first page, 8949 2nd page, 17 K1s, and Schedule K. I then went to the expert taxes Line and downloaded the Schedule D, 8949, Portfolio Deductions, ...
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Business Code
Belong two clubs with different accounting software.- Bivio and Iclub and noted one uses business code 523910 and another is 525990. What is the correct code for investment club? Harriet Chan
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Scottrade FRIP accounting discrepancy
I use Bivio to automatically download transactions from my club's Scottrade account. Since we enrolled in Scottrade's FRIP (Flexible Reinvestment Program) our cash balance has not matched Scottrade's. The reason is that Scottrade records a debit from our cash balance when it moves dividends into ...
4 messages
Dividend entries on Tax Forms
Hello Laurie and others, What about capital gains from a REIT. I know you addressed this already but could you tell me again. The broker shows our REIT is listed as having distributed capital gains though we still own the stock. How do we account ...
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Dividends and Distributions on your 1099
Just a reminder to everyone that making sure all the information in the dividends and distributions section of your 1099 is properly handled on your investment club taxes is as important as reporting your stock sales correctly. Sometimes you even find treasure. I just found ...
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Pertner percentages
According to our member list and our partnership documentation, each of our partners own 5% of the partnership. However, according to the K-1s two of our partners have much lower percentages. How do I get all of the percentages to be 5.0%? Julia Van de ...
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