Does anyone know if Bivio and handle a short sale and how to
record it.

Jeff Daniels writes:
> Does anyone know if Bivio and handle a short sale and how to
> record it.

Ira is correct. We don't handle short sales at this time.

We've got an interim solution in test, but it doesn't deal with taxes
correctly. We'll try to add this in the coming months. The tax
season is upon us, so we've had to switch gears to other issues.

We apologize for this deficiency.

Cheers,
Rob

I have a short term workaround for shorts that was given to
me by someone at bivio support last year: It works great as
long as there were no member purchases of units during the
period you were shorting and it does not cross years. In
that case there is another workaround I put at the end (step
3)

1. Enter in a buy trx and sell trxfor the same day and same
amount. (as long as there were no unit purchases during the
period any amount will do) this will trick Bivio into
thinking that you owned the stock at one point.

2. Click on the investment and then on the income button.
Enter the date the short was covered, then under
distribution type select short-term or long-term gain,
depending on what it was. now enter the total gain (100) or
loss (-100).

This will get the gain/loss on your tax forms and the
brokerage account balance will be corrected. On the Sched D
attachment you will have to cross out the wording and enter
the security name.

If you had member unit purchases over this time or just want
to keep your balances accurate during the shorting period,
you will need to "mark to market" your portfolio for the
dates the purchases took place. To do this...

3. At each date that needs adjusted, calculate your
gain/loss on the short so far. Go to your brokerage account
in Bivio and enter a non-deductible expense for your
gain/loss so far. This should adjust the value of your
portfolio account so your NAV is correct. Add new items on
your purchase date as necessary for each date you need
adjusted. Keep track of your adjustments because when you
cover the short you must enter a reversing transaction to
cancel these out. Your actual gain or loss will be handled
by the amount entered in Step 2 above. Entering a
non-deductible expense will keep it off the tax forms.

No rip on Bivio, I works well, but I was promised Short Sale
functionality last year so I am not holding my breath again
this year.

Hope this helps,

David Ackron
Rob Nagler wrote:
> Jeff Daniels writes:
> > Does anyone know if Bivio and handle a short sale and how to
> > record it.
>
> Ira is correct. We don't handle short sales at this time.
>
> We've got an interim solution in test, but it doesn't deal with taxes
> correctly. We'll try to add this in the coming months. The tax
> season is upon us, so we've had to switch gears to other issues.
>
> We apologize for this deficiency.
>
> Cheers,
> Rob