Does anybody know how one can enter a future valuation date in Bivio? Does anybody know how I can access my AIRR as a member? Would you know of a better way to record the selling of covered calls besides putting it into the stock ...
Do dividends impact the cost basis of the members in our club? It seems that because dividends raise the value of the share price, they would have to be paid out as a distribution (like a mutual fund) in order to impact cost basis. Then ...
Yes, dividends (and other income and expense) impact the cost basis of the members in your club. However, the method for accounting for that change is somewhat different from that used by mutual funds. Within bivio, the cost basis adjustment is made on December 31 ...
Increase or decrease (if expenses/losses are greater than income). Actually the change doesn't necessarily equal the taxable portion reported on the K-1 forms because nondeductible expenses and returns of capital also affect the tax basis. But the concept is the same. You can see the ...
Yes. Ira Smilovitz In a message dated 11/9/2004 12:28:37 PM Eastern Standard Time, ted_metro@bivio.com writes: One last question, I apologize, but thank you for the excellent responses. So capital gains/losses would be treated similarly as dividends in regards to increasing or decreasing a tax basis?? ...
I and another member of our club have received a few e-mails with our club's short name in the topic. I'm not yet sure if all members have received them, but this is more than a little disconcerting. I went ahead and opened one of ...
Hello Bivio Club Members; My club has come to a crossroad, and we are looking for feedback on how often other clubs meet? Currently, we meet monthly, however, life appears presented us all with some challenges. Feedback is requested for the following questions: 1) How ...
Our club was having issues with attendance in 2003. We had always met every month on the third Thursday. For 2004 we decided to meet every other month. The results have not been positive, and we are looking at resuming monthly meetings. Our club is ...
When dissolving a club, must we notify the IRS regarding the federal ID number that won't be in use anymore, or will this be taken care of with our final tax return?
The IRS will know when you check "final return". However, you may need to notify your state that you are dissolving. Ira Smilovitz In a message dated 11/16/2004 4:18:44 PM Eastern Standard Time, icecold@bivio.com writes: When dissolving a club, must we notify the IRS regarding ...
Buying gold is not a wise idea for many reasons. First is the problem of valuation. Gold bars will generally not be worth the same as gold coins of equal gold weight. Second is the issue of taxation. Profits on gold are not typical short/long ...
Ray, You will have to file NY Form IT-204 and Form IT-204-ATT. On Form IT-204 you will complete the header and items A-G. You will include only the NY resident partner(s) on Form IT-204-ATT. For more information, see the section titled "Specific Instructions" on page ...