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 ...
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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
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 ...
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Someone in our club brought up purchasing Gold. Are there Gold Stocks? Seems like we looked into this once before and it wouldn't work. Can someone enlighten me. Thank you, Margaret Investment Queens
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Looking for Ideas - hydrogen?
FYI some follow-up from an expert in the hydrogen power sector (MIT) whom I know. He permitted me to share. Not a good short term investment if you are risk-averse but for long term buy and hold.A Just sharing, not defending the technology. From: J.A. ...
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Filing 2020 club tax
Just double checking - do I send the information page after each K-1 (opt out and expenses) to the IRS?
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Clubs in Fishkill/Poughkeepsie area?
Are there any clubs in the Fishkill/Poughkeepsie NY area? Asking for a family member who lives in that area and would like to join an investment club. Please share club name and contact information to our club email address ( so we can pass on ...
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Member payment error
In auditing this year we found a strange issue that goes back several years. In a month from several years ago member payments were debited four times. I don't know when this glitch happened but we knew our account was off and couldn't Figure out ...
5 messages
State NY tax documents
The tax program for NY will be released early next week.A If your club or any of your members live in NY,A you will need to file a NY tax return. You'll be able to generate it from the Accounting>Taxes page once it is released. ...
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Looking for Ideas
I'm wondering if "sustainable", "renewable" energy companies might be an area where growth may be found. I've found some reasonably decent companies but they seem pretty expensive (high P/Es, and/or high in the HOLD range). Any thoughts from the cafe'?
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rounding up
Our 1099B shows a net tax gain of 15.61.. bivio has it rounded up to $16 Should they match?
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Tax Records
We've been in existence since 1988. How long should we keep club paperwork and tax information before we can safely destroy it? What are IRS regulations or recommendations?
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[ #240233] I don't know where to ask, so I'm asking here.
Hi Jose, Here are the instructions for that section from the Form 1065 instructions: Item L. Partner's Capital Account Analysis You aren't required to complete item L if the answer to question 4 of Schedule B is "Yes." If you are required to complete this ...
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[ #240233] I don't know where to ask, so I'm asking here.
Hi Jose, If you have audited your club records and know your tax forms are correct, then it is fine to send and distribute the tax forms as generated. The IRS will be looking for forms from your EIN number. So that keeps you from ...
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