Rob, we have two questions.

we currently hold PYM (Putnam High Yield Municipal) It gives us a
monthly tax free dividend.
How do we account for tax free dividends. Should they be entered as
qualified dividends?

Also, if we pay a member a partial withdraw from our cash position for
an emergency situation, how is the club affected tax ways? Do all the
members have to pay taxes for the cash issuance. Note: we are not
selling any of our positions. We are paying this member from our cash
position.

Thank You.
Alessandro Squeo
Chicago Megabuck Club


-----Original Message-----
From: club_cafe-owner@bivio.com [mailto:club_cafe-owner@bivio.com] On
Behalf Of Rob Nagler
Sent: Thursday, January 22, 2004 10:59 AM
To: The Club Cafe
Subject: Re: club_cafe: PDF File for Taxes

Jeffrey Wood writes:
> Last year there was a way to download all the tax related PDF files
> in one click but this year it looks like I have to right click and
> save to get each individual file. Will you be adding this single
> click feature to the site or do I need to download each
> individually?

With the recent tax changes, we had to pull that feature temporarily.
We'll be getting the feature back on the site soon.

Just as a friendly reminder, you shouldn't file your taxes until you
have audited your books against your 1099s from the brokers.

Rob

Squeo,Alessandro wrote:
> How do we account for tax free dividends. Should they be entered as
> qualified dividends?
 
Unfortunately you can't currently enter tax-free dividends for
investments linked to our price database. For unlisted investments,
you can select the "Federal Tax Free" checkbox when creating the
investment.
 
We will have this fixed on Monday morning, and you will be able to
edit the existing dividends and change the distribution type to
"Interest/Dividend, Tax Free".
 
> Also, if we pay a member a partial withdraw from our cash position for
> an emergency situation, how is the club affected tax ways? Do all the
> members have to pay taxes for the cash issuance.
 
The partial withdrawal will not have an effect on the other club
members. The member making the withdrawal will have a taxable event if
the withdrawal amount exceeds their tax basis in the club. The
withdrawal report for the member will tell you if this is the case.
 
Paul Moeller
bivio, Inc.