club_cafe: Taxes

iras1 on

Your club *must* file Form 1065 with the Internal Revenue Service. Your club members will have to report their club membership information on Schedule E. If you had any income or expense (whether or not you sold stock) your members will have to report their share of the interest, dividends, and/or expense on Schedule B and/or A (as appropriate).

You may have to file additional state returns depending on what state your club is registered in and what states your members live in.

Ira Smilovitz

In a message dated 02/16/03 7:15:54 PM Eastern Standard Time, t_hick@bivio.com writes:

Smoe of our members would like to know if we need to file
any tax info with our presonal tax returns. We will be
filing a k- for our club. Tehy would like to know if we
need to file anywhere else. We did not sell any of our
stocks so we do not have any gains or losses.

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