So another question:A I initially thought that an ETF that our club purchased was a digital asset, so I answered yes to that question in the partnership interview section of the tax preparation process.A I went through the rest of the process and found that ...
I know there were issues with investing in GBTC when it was a unit trust due to the number of basis adjustments required and the fact that Bivio does not support it for tax preparation purposes. Is that still the case now that GBTC has ...
On our club's Schwab 1099 shows a dividend "Paid in 2024 for 2023". This dividend was not included in our club's 12/31/23 balance, but does show on the 1099-DIV. The transaction date was 1/31/24 and bivio has the transaction with that date. The tax return ...
Schwab has different terminology from the Bivio drop-down menu for editing dividends and interest.A 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) ...
Is there any way to check the members SS# before I e file? I always had my members check their K-1 before I mailed them in. I do not see a way to do it before I e file.
I am doing the tax interview and one of our dividends is nonqualified.A When I click on to edit it under Distribution Amounts there is no choice for nonqualified.A How do I correct this? John Rice
We had a member do a partial withdrawal in the amount of $40,000 in Dec 2023. I believe I entered the withdrawal as instructed on the tutorial. In Accounting>Reports>Member Contributions and Withdrawals, it now shows his contribution in Q4 as -$40,000. It appears that it ...
We have a couple of investments where dividends are shown as Qualified on the 1099, but Bivio has reclassified all or a portion as Ordinary. I believe this is because we did not hold the stock long enough before the ex-dividend date. The stocks are ...
I just completed our club NYS taxes. On the first page of IT-204 designee name , It has a box that has a personal ID #. What is that? Do I put the last 4 of my SS#? A Benjamin
Hi, I was trying to update my dividends to reflect those that are ordinary dividends vs qualified dividends. One fund is recorded as having all qualified dividends, but my 1099 indicates that a small portion is ordinary. In the past, I have split that out ...
I just e-filed our taxes. Now the members need to access their K-1s online. In the past, I believe there was a check-off to Allow Members to Access K-1s, but I cannot find that option now. Please advise. Thank you in advance.