This presentation discusses all the steps you need to follow to prepare your annual investment club tax returns.
You can download a PDF of the presentation
(Other than dates, 2018 videos are still applicable)
Intro - What you need to file, the process you'll use and key timeline points you'll be working with.
Step 1 - This video describes briefly the importance and process of doing an audit to make sure your bivio records are ready to be used to prepare taxes.
Step 2 - In this step, dividend entries in bivio are checked against the brokers 1099 and any last minute adjustments are made.
Step 3 - In this step, cost basis and capital gain/loss in bivio are checked against the brokers 1099 and any discrepancies are resolved.
Step 4 - In this step, you take a tax interview to answer some final questions needed to generate your tax club tax return and member K-1's.
Steps 5 and 6 - In these steps you generate your tax returns and review the information that has been entered on them. Information is also provided about state tax requirements and filing your return.