Taxation Mark-to-Market accounting
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Taxation Mark-to-Market accounting If club is organized as partnership or LLC or any other format..Do we have to report unrealized gains by mark-to-market accounting? It means unrealized gains as of 31 dec will be reported as gains. and then account value as of 1st jan 2014 will be basis for this year. OR will it be just like individual pass thru where unrealized gains will carry forward in year 2014? Thanks Dear Raka, If neither of those or any other situations requiring Mark to Market accounting apply to you, you wouldn't have to use it. Which is good. bivio does not automatically handle the accounting and other tax issues you'd encounter with, for example, Section 1256 investments.Mark to Market is only required in special cases. For example, if you have purchase certain types of investments such as Section 1256 investments or if you have elected Active Trader status with the IRS. Laurie Frederiksen
Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe On Thu, Apr 3, 2014 at 10:53 AM, Raka maka <rakamaka@inbox.com> wrote: If club is organized as partnership or LLC or any other format..Do we have to report unrealized gains by mark-to-market accounting? |
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