My club of almost 24 years recently disbanded and the
remaining 4 partners (including me) took our full
withdrawals in stock. I have been the Club Treasurer since
we formed it. Can someone please point me to where I can
get some information concerning how and when to step up each
the cost basis of the stock lots I received from the Club's
cost basis to my Partnership cost basis. If it helps, both
the Investment Club account was, and my personal account is,
at Fidelity. I have not yet sold any of the stock I
received, and the cost basis Fidelity is showing is the
Club's cost basis. Thanks so much!
Lynda Feit on
That’s because when you transfer stock there is no step-up in cost basis.
Sent from my iPhone
> On Mar 10, 2025, at 7:37 PM, Carole L. Jansen via bivio.com <user*8441200001@bivio.com> wrote:
>
> My club of almost 24 years recently disbanded and the
> remaining 4 partners (including me) took our full
> withdrawals in stock. I have been the Club Treasurer since
> we formed it. Can someone please point me to where I can
> get some information concerning how and when to step up each
> the cost basis of the stock lots I received from the Club's
> cost basis to my Partnership cost basis. If it helps, both
> the Investment Club account was, and my personal account is,
> at Fidelity. I have not yet sold any of the stock I
> received, and the cost basis Fidelity is showing is the
> Club's cost basis. Thanks so much!
Tracy, Molly M on
The withdrawal forms in Bivio provide the information on a departing members cost basis for stock received.
Sent from my iPhone
> On Mar 10, 2025, at 9:36 PM, Carole L. Jansen via bivio.com <user*8441200001@bivio.com> wrote:
>
> My club of almost 24 years recently disbanded and the
> remaining 4 partners (including me) took our full
> withdrawals in stock. I have been the Club Treasurer since
> we formed it. Can someone please point me to where I can
> get some information concerning how and when to step up each
> the cost basis of the stock lots I received from the Club's
> cost basis to my Partnership cost basis. If it helps, both
> the Investment Club account was, and my personal account is,
> at Fidelity. I have not yet sold any of the stock I
> received, and the cost basis Fidelity is showing is the
> Club's cost basis. Thanks so much!
ira smilovitz on
The change in cost basis (it's not necessarily a step up) is shown on your withdrawal report. Not all brokers will adjust the cost basis when the stock is transferred from a partnership to a member. You need to keep the withdrawal report as your documentation of the actual cost basis in your hands. There is a procedure for adjusting the cost basis on a tax return when the broker reported basis is different from the actual cost basis.
My club of almost 24 years recently disbanded and the
remaining 4 partners (including me) took our full
withdrawals in stock. I have been the Club Treasurer since
we formed it. Can someone please point me to where I can
get some information concerning how and when to step up each
the cost basis of the stock lots I received from the Club's
cost basis to my Partnership cost basis. If it helps, both
the Investment Club account was, and my personal account is,
at Fidelity. I have not yet sold any of the stock I
received, and the cost basis Fidelity is showing is the
Club's cost basis. Thanks so much!
Carole Jansen on
Thanks Ira, the last sentence is what I needed. Thankfully, in my case, it is all a step up.
The change in cost basis (it's not necessarily a step up) is shown on your withdrawal report. Not all brokers will adjust the cost basis when the stock is transferred from a partnership to a member. You need to keep the withdrawal report as your documentation of the actual cost basis in your hands. There is a procedure for adjusting the cost basis on a tax return when the broker reported basis is different from the actual cost basis.
My club of almost 24 years recently disbanded and the
remaining 4 partners (including me) took our full
withdrawals in stock. I have been the Club Treasurer since
we formed it. Can someone please point me to where I can
get some information concerning how and when to step up each
the cost basis of the stock lots I received from the Club's
cost basis to my Partnership cost basis. If it helps, both
the Investment Club account was, and my personal account is,
at Fidelity. I have not yet sold any of the stock I
received, and the cost basis Fidelity is showing is the
Club's cost basis. Thanks so much!
Carole Jansen on
Thanks Tracy, I understand that part. I was looking for info on how to change it, either with my broker now or when I sell the stock. I think Ira has pointed me in the right direction.
The withdrawal forms in Bivio provide the information on a departing members cost basis for stock received.
Sent from my iPhone
> On Mar 10, 2025, at 9:36 PM, Carole L. Jansen via bivio.com <user*8441200001@bivio.com> wrote:
>
> My club of almost 24 years recently disbanded and the
> remaining 4 partners (including me) took our full
> withdrawals in stock. I have been the Club Treasurer since
> we formed it. Can someone please point me to where I can
> get some information concerning how and when to step up each
> the cost basis of the stock lots I received from the Club's
> cost basis to my Partnership cost basis. If it helps, both
> the Investment Club account was, and my personal account is,
> at Fidelity. I have not yet sold any of the stock I
> received, and the cost basis Fidelity is showing is the
> Club's cost basis. Thanks so much!
That's because when you transfer stock there is no step-up in cost basis.
Sent from my iPhone
> On Mar 10, 2025, at 7:37 PM, Carole L. Jansen via bivio.com <user*8441200001@bivio.com> wrote:
>
> My club of almost 24 years recently disbanded and the
> remaining 4 partners (including me) took our full
> withdrawals in stock. I have been the Club Treasurer since
> we formed it. Can someone please point me to where I can
> get some information concerning how and when to step up each
> the cost basis of the stock lots I received from the Club's
> cost basis to my Partnership cost basis. If it helps, both
> the Investment Club account was, and my personal account is,
> at Fidelity. I have not yet sold any of the stock I
> received, and the cost basis Fidelity is showing is the
> Club's cost basis. Thanks so much!
Ruthy Sellers on
IRA--PLEASE HELP! I WAS ONCE A MEMBER OF CLUB_CAFE@BIVIO SEVERAL YEARS AGO (LAST FILED A CLUB RETURN IN 2021?) BUT THE CLUB I WAS A MEMBER OF WITHDREW (AUTUMN CHASE WOMEN'S INVESTMENT CLUB) AND SO DID I. HOWEVER I FAILED TO DELETE MY MEMBERSHIP FROM RECEIVING THE EMAILS. PLEASE DO SO FOR ME. I DO NOT REMEMBER HOW TO DO SO. PLEASE HELP! THANK YOU.
The change in cost basis (it's not necessarily a step up) is shown on your withdrawal report. Not all brokers will adjust the cost basis when the stock is transferred from a partnership to a member. You need to keep the withdrawal report as your documentation of the actual cost basis in your hands. There is a procedure for adjusting the cost basis on a tax return when the broker reported basis is different from the actual cost basis.
My club of almost 24 years recently disbanded and the
remaining 4 partners (including me) took our full
withdrawals in stock. I have been the Club Treasurer since
we formed it. Can someone please point me to where I can
get some information concerning how and when to step up each
the cost basis of the stock lots I received from the Club's
cost basis to my Partnership cost basis. If it helps, both
the Investment Club account was, and my personal account is,
at Fidelity. I have not yet sold any of the stock I
received, and the cost basis Fidelity is showing is the
Club's cost basis. Thanks so much!
Rebecca Kruse on
We've removed Ruthy's email address from the Club Cafe' mailing list. There's also a link that Club Cafe' members can use to unsubscribe:
IRA--PLEASE HELP! I WAS ONCE A MEMBER OF CLUB_CAFE@BIVIO SEVERAL YEARS AGO (LAST FILED A CLUB RETURN IN 2021?) BUT THE CLUB I WAS A MEMBER OF WITHDREW (AUTUMN CHASE WOMEN'S INVESTMENT CLUB) AND SO DID I. HOWEVER I FAILED TO DELETE MY MEMBERSHIP FROM RECEIVING THE EMAILS. PLEASE DO SO FOR ME. I DO NOT REMEMBER HOW TO DO SO. PLEASE HELP! THANK YOU.
The change in cost basis (it's not necessarily a step up) is shown on your withdrawal report. Not all brokers will adjust the cost basis when the stock is transferred from a partnership to a member. You need to keep the withdrawal report as your documentation of the actual cost basis in your hands. There is a procedure for adjusting the cost basis on a tax return when the broker reported basis is different from the actual cost basis.
My club of almost 24 years recently disbanded and the
remaining 4 partners (including me) took our full
withdrawals in stock. I have been the Club Treasurer since
we formed it. Can someone please point me to where I can
get some information concerning how and when to step up each
the cost basis of the stock lots I received from the Club's
cost basis to my Partnership cost basis. If it helps, both
the Investment Club account was, and my personal account is,
at Fidelity. I have not yet sold any of the stock I
received, and the cost basis Fidelity is showing is the
Club's cost basis. Thanks so much!