Do clubs in Indiana have to file state income taxes? We have a member who moved to Indiana but joins us online, so we need to know if we have to file taxes for her. Phyllis Woodring Model Investment Club of Northern Virginia Do what ...
I have no idea. The previous treasurer had cancer and died so I was unable to find out how we got here. When I took over as treasurer I wrote a letter to Computershare to ask them to send the information to me. I was ...
While recently seeking the correct form to update our club roster with our broker, I learned that our broker (Schwab) no longer opens new investment clubs or provides the support they once did for established accounts. Our club is grandfathered but it will be more ...
Our club owns AMT (a REIT) and each year I allocate the dividend as Qualified or Ordinary in Bivio after I receive the 1099. This year the 1099 shows the dividend as Qualified or Section 199A. Section 199A is not a selection in Bivio's drop ...
Susanne, I have been the "Treasurer for Life" in two Club and we both use Foliofn. What we/I like about Folio are 1) No brokerage fee, 2) Purchase in fractional shares so you can invest all your monthly contributions, 3) unlimited window trades, they trade ...
If the club opts out, how does IRS know who the Partnership Representative person is? On Form 1065 Sch. B, the PR person has to be identified only if the club didn't opt out. Also, does IRS need, besides Form B-2, signatures of all partners? ...
I don't want to link the club account to my personal broker account. However, Is there is any way to link my member data in Bivio to my Fidelity broker account for tracking purposes?? Fidelity gives me a "No institutions containing www.bivio.com/heidi_fredrick were found" when ...
Our bank started charging our club 3.00 per month service charge on our bank account. Is this a deductible expense. Also do I need to file a Kansas State Tax Return. I can't seem to find out from anyone.
Your correct cost basis is your member adjusted cost basis on your withdrawal report. You might try sending your broker the signed statement they ask for and asking them to adjust the basis under Section 732(b) of the Internal Revenue Code which covers distributions from ...
Our club disbanded in December and our Treasurer transferred all members stocks to their personal broker accounts. When these transactions occurred the receiving broker used the clubs cost basis for my cost basis and seems disinclined (see email below) to use my member adjusted cost ...
While preparing my club's annual report, I include the IRR comparison between my club and the Vanguard 500 Index as computed using the "Performance Bench Mark" tool. I also include the stock minus cash IRR calculation created by "Investment Performance. In the last several "up" ...
Here's a little activity you can do to start to get ready for tax season.A A Go to Accounting>Investments Do you see any: 1.A Investments highlighted in red? 2.A Tickers in italics where shares for investments it still shows you own? 3.A Old dates in ...