We have a stock that we bought 50 shares in 2014 and 50 in
2015 and sold all 100 shares later in 2015 so 50 shares are
short term gain and 50 long term gain. The commission to
sell was $7.01 and Scottrade added to the .01 to the short
term amount and bivio added it to the long term. Is that
one penny going to make a difference when I file my taxes? I
don't know how to change the total in bivio.
Laurie Frederiksen on
Hi,
Earlier this year Scottrade started charging extra "Trading Activity Fees" of a few cents on each trade.
We cannot enter these for you with AccountSync because they do not include them in the data file we get from them.
We've had lots of clubs using Scottrade with a similar question to yours or wondering why their cash balances are off by a few cents.
We have talked to Scottrade. They have assured us they are addressing the issue, but many months have passed and there have been no changes on their side.
The way to correct the issue is to edit the transaction and increase the commision field by the few pennies involved.
This will keep both your cash balance and capital gains the same as what they show.
Laurie Frederiksen Invest with your friends! www.bivio.com
We have a stock that we bought 50 shares in 2014 and 50 in
2015 and sold all 100 shares later in 2015 so 50 shares are
short term gain and 50 long term gain. The commission to
sell was $7.01 and Scottrade added to the .01 to the short
term amount and bivio added it to the long term. Is that
one penny going to make a difference when I file my taxes? I
don't know how to change the total in bivio.
Karen Wilson on
Scottrade shows the Proceeds as $522.95, the Tax Cost Basis as $1810.65, the short term gain/loss as -$429.30 and the long term gain/loss as $858.40. Bivio shows the Sales price ($5.2996) for 100 shares as being 529.96 with the commission fee of $7.01 so we received $522.95. That total divided by 2 (half being the short term loss and half being the long term loss which is $261.48 and $261.47) My problem is that Scottrade put the $261.48 loss as long term and the $261.47 loss as short term and Bivio put the @261.48 loss as short term and the @261.47 loss as long term. Is there a way I can make Bivio turn the two around?
On Friday, January 15, 2016 2:10 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
Hi,
Earlier this year Scottrade started charging extra "Trading Activity Fees" of a few cents on each trade.
We cannot enter these for you with AccountSync because they do not include them in the data file we get from them.
We've had lots of clubs using Scottrade with a similar question to yours or wondering why their cash balances are off by a few cents.
We have talked to Scottrade. They have assured us they are addressing the issue, but many months have passed and there have been no changes on their side.
The way to correct the issue is to edit the transaction and increase the commision field by the few pennies involved.
This will keep both your cash balance and capital gains the same as what they show.
We have a stock that we bought 50 shares in 2014 and 50 in
2015 and sold all 100 shares later in 2015 so 50 shares are
short term gain and 50 long term gain. The commission to
sell was $7.01 and Scottrade added to the .01 to the short
term amount and bivio added it to the long term. Is that
one penny going to make a difference when I file my taxes? I
don't know how to change the total in bivio.
Laurie Frederiksen on
Dear Karen,
There is no way or reason to turn it around. Their rounding is no more right or wrong than what is in bivio. That penny difference won't even show up on your tax forms.
Laurie Frederiksen Invest with your friends! www.bivio.com
Scottrade shows the Proceeds as $522.95, the Tax Cost Basis as $1810.65, the short term gain/loss as -$429.30 and the long term gain/loss as $858.40. Bivio shows the Sales price ($5.2996) for 100 shares as being 529.96 with the commission fee of $7.01 so we received $522.95. That total divided by 2 (half being the short term loss and half being the long term loss which is $261.48 and $261.47) My problem is that Scottrade put the $261.48 loss as long term and the $261.47 loss as short term and Bivio put the @261.48 loss as short term and the @261.47 loss as long term. Is there a way I can make Bivio turn the two around?
On Friday, January 15, 2016 2:10 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
Hi,
Earlier this year Scottrade started charging extra "Trading Activity Fees" of a few cents on each trade.
We cannot enter these for you with AccountSync because they do not include them in the data file we get from them.
We've had lots of clubs using Scottrade with a similar question to yours or wondering why their cash balances are off by a few cents.
We have talked to Scottrade. They have assured us they are addressing the issue, but many months have passed and there have been no changes on their side.
The way to correct the issue is to edit the transaction and increase the commision field by the few pennies involved.
This will keep both your cash balance and capital gains the same as what they show.
We have a stock that we bought 50 shares in 2014 and 50 in
2015 and sold all 100 shares later in 2015 so 50 shares are
short term gain and 50 long term gain. The commission to
sell was $7.01 and Scottrade added to the .01 to the short
term amount and bivio added it to the long term. Is that
one penny going to make a difference when I file my taxes? I
don't know how to change the total in bivio.
Karen Wilson on
Okay good. Thanks for your help.
On Friday, January 15, 2016 3:05 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
Dear Karen,
There is no way or reason to turn it around. Their rounding is no more right or wrong than what is in bivio. That penny difference won't even show up on your tax forms.
Scottrade shows the Proceeds as $522.95, the Tax Cost Basis as $1810.65, the short term gain/loss as -$429.30 and the long term gain/loss as $858.40. Bivio shows the Sales price ($5.2996) for 100 shares as being 529.96 with the commission fee of $7.01 so we received $522.95. That total divided by 2 (half being the short term loss and half being the long term loss which is $261.48 and $261.47) My problem is that Scottrade put the $261.48 loss as long term and the $261.47 loss as short term and Bivio put the @261.48 loss as short term and the @261.47 loss as long term. Is there a way I can make Bivio turn the two around?
On Friday, January 15, 2016 2:10 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
Hi,
Earlier this year Scottrade started charging extra "Trading Activity Fees" of a few cents on each trade.
We cannot enter these for you with AccountSync because they do not include them in the data file we get from them.
We've had lots of clubs using Scottrade with a similar question to yours or wondering why their cash balances are off by a few cents.
We have talked to Scottrade. They have assured us they are addressing the issue, but many months have passed and there have been no changes on their side.
The way to correct the issue is to edit the transaction and increase the commision field by the few pennies involved.
This will keep both your cash balance and capital gains the same as what they show.
We have a stock that we bought 50 shares in 2014 and 50 in
2015 and sold all 100 shares later in 2015 so 50 shares are
short term gain and 50 long term gain. The commission to
sell was $7.01 and Scottrade added to the .01 to the short
term amount and bivio added it to the long term. Is that
one penny going to make a difference when I file my taxes? I
don't know how to change the total in bivio.