Member wanting to take cash out

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wiltse@optonline.net on

Sent from my LG V20, an AT&T 4G LTE smartphone

------ Original message------

From: wiltse@optonline.net

Date: Fri, Nov 8, 2019 5:56 PM

To: Karen Wilson via bivio.com;

Cc:

Subject:Re: [club_cafe] Member wanting to take cash out

Go to withdraw member and specify partial withdrawal and the amount. If the person just takes out some of their contributions there is no tax consequence. If they take out more there could be a gain or loss to report on their tax return.

Sent from my LG V20, an AT&T 4G LTE smartphone

------ Original message------

From: Karen Wilson via bivio.com

Date: Fri, Nov 8, 2019 5:34 PM

To: club_cafe@bivio.com;

Cc:

Subject:[club_cafe] Member wanting to take cash out

We have a member that wants to take some of her money out
but not withdraw from the club.  How do we do that with the
accounting.

cindy gerke on

If the club has to sell stock and it has capital gains all the members will share the capital gain for taxes. If you transfer stock to the members brokerage account that mber pays the capital gains when they sell the stock.

On Fri, Nov 8, 2019, 5:58 PM wiltse@optonline.net via bivio.com <user*31518000001@bivio.com> wrote:

Sent from my LG V20, an AT&T 4G LTE smartphone
------ Original message------
From: wiltse@optonline.net
Date: Fri, Nov 8, 2019 5:56 PM
To: Karen Wilson via bivio.com;
Cc:
Subject:Re: [club_cafe] Member wanting to take cash out
Go to withdraw member and specify partial withdrawal and the amount. If the person just takes out some of their contributions there is no tax consequence. If they take out more there could be a gain or loss to report on their tax return.

Sent from my LG V20, an AT&T 4G LTE smartphone
------ Original message------
From: Karen Wilson via bivio.com
Date: Fri, Nov 8, 2019 5:34 PM
To: club_cafe@bivio.com;
Cc:
Subject:[club_cafe] Member wanting to take cash out
We have a member that wants to take some of her money out
but not withdraw from the club.  How do we do that with the
accounting.

Peter Dunkelberger on

Be certain to check your partnership agreement to make certain partial withdrawals are permitted. Our club permits only full withdrawal from the club.

Peter

On Fri, Nov 8, 2019 at 5:59 PM wiltse@optonline.net via bivio.com <user*31518000001@bivio.com> wrote:

Sent from my LG V20, an AT&T 4G LTE smartphone
------ Original message------
From: wiltse@optonline.net
Date: Fri, Nov 8, 2019 5:56 PM
To: Karen Wilson via bivio.com;
Cc:
Subject:Re: [club_cafe] Member wanting to take cash out
Go to withdraw member and specify partial withdrawal and the amount. If the person just takes out some of their contributions there is no tax consequence. If they take out more there could be a gain or loss to report on their tax return.

Sent from my LG V20, an AT&T 4G LTE smartphone
------ Original message------
From: Karen Wilson via bivio.com
Date: Fri, Nov 8, 2019 5:34 PM
To: club_cafe@bivio.com;
Cc:
Subject:[club_cafe] Member wanting to take cash out
We have a member that wants to take some of her money out
but not withdraw from the club.  How do we do that with the
accounting.

Mail