Mutual Funds

Mary Moriarty on

Hello, Are there any cautions generally about club
investing in mutual funds/ Our club would like to try
investing in a mutual fund but we are concerned that we may
create problems in accounting. Will Bivio be able to
account for the investment in a mutual fund? Will we create
problems our tax filing?

Norman Gee on

Some of the problems are sometimes the dividends paid in January are reported on the 1099 as taxable the previous year. The mutual funds may not have 100% qualified dividends. Your 1099 maybe delayed a week or 2 as the brokerage must determine how much is qualified

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On Wednesday, January 24, 2024, 10:55 am, Mary Moriarty via bivio.com <user*21882100001@bivio.com> wrote:

Hello, Are there any cautions generally about club
investing in mutual funds/ Our club would like to try
investing in a mutual fund but we are concerned that we may
create problems in accounting. Will Bivio be able to
account for the investment in a mutual fund? Will we create
problems our tax filing?

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