Question about a withdrawal
Currently I am in need to withdraw 20,000 from our club. My investment value is 23,000, but I only paid about 8,000 for it. If I show this as a withdrawal, won't my investment percentage drop to zero, when really the remaining 3,000 is about ...
14 messages
Federal & State Tax Reporting Requirements for Disbanding Clubs
Our club has come to it's logical conclusion.A I've read several of the articles, messages and self help notes about the disbanding process.A I believe I understand the Federal requirements to file a partial return and that can be done on the Bivio site.A However, ...
4 messages
Buying Foreign Stocks
Our club is considering purchasing stock in Canadian company Aurora Cannabis (ACBFF), which is slated to trade on the NYSE as ACB by the end of this month. Our question regards taxes. How does owning foreign stocks complicate our taxes, if at all? Thank you ...
8 messages
20/20 Investment Club disbanding
Good morning Laurie, Our club has decided to disband. We have sold all of our stock and transferred the funds to our bank account. When doing the total withdrawal on each member I noticed it didn't include the cash we had on hand. How do ...
2 messages
Does Your Club Own Celgene?
If your club owns CELG,A you may be aware that they are being bought by Bristol Meyers. There are a couple of issues related to this transaction that you should be aware of as they will affect your club accounting. This will be a taxable ...
29 messages
Quest for Positive Returns
How do I get our club's Quest for Positive Returns updated? I've e-mailed support several times and have not gotten a response. Thanks, Kathy Hazlewood
1 message
DowDupont Split to Dupont de Nemours Inc(DD) and Corteva Inc (CTVA) transaction
a)A I do not yet understand the question. b)A When one talks of "correcting" an imported transaction, one must be careful to reflect accurately the tax nature of the transaction.A If the "correction" does not reflect what TD Ameritrade will show on its 1099, then ...
2 messages
DowDupont Split to Dupont de Nemours Inc(DD) and Corteva Inc (CTVA) transaction
Is there anyone club out there that owned DowDupont and has been able to figure out how to correct the imported transactions for TDAmeritrade. Our club had 30 shares of DowDupont and when it split into Dupont De Nemours Inc (DD) and Corteva Inc (CTVA). ...
7 messages
New IRS Audit Procedures - Our Recommendations
It's time to make a change. Our goal at bivio is to make sure your club operations can be as simple as possible so you can have an investment club and learn about investing in a real life a€œlaba€ and not get bogged down by ...
4 messages
Partnership agreement
I am looking for the information or email where the recommended wording for amending the partnership agreement to either opt out of the irs audits or what ever my club decides to do tomorrow. I am not finding what i need. colleen goings
6 messages
withdrawal because of death of a member
The member's family decided to open an account with our broker. The broker has transferred the stocks. where and how do I record this in Bivio?
2 messages
Club Ownership
Can a partner retitle his/her ownership in the club to his/her trust? Have any clubs encountered this question or has anyone done this in the past?
3 messages
Check writing privileges at TD Ameritrade
A Our current local merchant bank is going to start charging a fee to maintain a checking account there.A I was wondering if TD Ameritrade can be setup to require 2 signatures for each check or is only 1 signature needed?A I already pose the ...
21 messages
Foreign Companies Traded on US Exchanges
Do any clubs have experience buying foreign company stock traded on the NYSE? Our relatively new club is interested at looking at Alibaba, Moet Hennessy Louis Vuitton and some Canadian cannabis companies. However, Bivio has cautioned that foreign companies can create accounting problems when they ...
8 messages
Adding and removing members
Laurie, Under the bivio Partnership Adding Members Considerations it says: Your partnership agreement is an agreement between the people listed on the signature page to conduct the business of the group in a specific manner. If this list changes, legally, the partnership is dissolved and ...
4 messages