With in Ameritrade, we have a transaction with a description
of "PARTNERSHIP DISTRIBUTION (APL)".

Bivio doesn't provide this as a distribution type on the
Investment Income form?

How should I record this in Bivio?

Do I record this as a "Return of Capital"?

Thanks!

Keith Shie wrote:
> With in Ameritrade, we have a transaction with a description
> of "PARTNERSHIP DISTRIBUTION (APL)".
>
> How should I record this in Bivio?
 
You should receive a K-1 from the partnership which issued the
distribution. You can then record the individual parts of the
distribution (dividend, interest, gains) into the club's accounting
records using the breakdown from the K-1.
 
There may be certain items on the K-1 you receive which are not
supported by our software and those items will need to be divided
among the club member K-1s manually.
 
You can email support@bivio.com when you receive the K-1 from the
partnership if you need further help.
 
We highly recommend that investment clubs do not invest in other
partnerships because of the extra accounting required, and it also
causes a delay for the members to receive their individual K-1.
 
Paul Moeller
bivio, Inc.

Paul,

Thank you for your reply.

However, I must say that your answer paired with my
ignorance has left me a little confused.

I guess we didn't know such beasts were traded in the stock
market.

This distribution was received just this week. Will this
affect our 2005 taxes?

How is this different than a dividend? (which is how Yahoo!
finance shows the transaction @
http://finance.yahoo.com/q/hp?s=APL)

Is there any way of recording this transaction in Bivio? Do
I have to manual carry this transaction as long as we own
shares in APL?

Thanks again,
Keith

Paul Moeller wrote:
> Keith Shie wrote:
> > With in Ameritrade, we have a transaction with a description
> > of "PARTNERSHIP DISTRIBUTION (APL)".
> >
> > How should I record this in Bivio?
>
> You should receive a K-1 from the partnership which issued the
> distribution. You can then record the individual parts of the
> distribution (dividend, interest, gains) into the club's accounting
> records using the breakdown from the K-1.
>
> There may be certain items on the K-1 you receive which are not
> supported by our software and those items will need to be divided
> among the club member K-1s manually.
>
> You can email support@bivio.com when you receive the K-1 from the
> partnership if you need further help.
>
> We highly recommend that investment clubs do not invest in other
> partnerships because of the extra accounting required, and it also
> causes a delay for the members to receive their individual K-1.
>
> Paul Moeller
> bivio, Inc.

Keith Shie wrote:
> This distribution was received just this week. Will this
> affect our 2005 taxes?
>
> How is this different than a dividend?
 
It looks like the distribution was declared on January 9th and would
be include with the club's 2006 taxes. You should check your brokerage
1099 to be sure.
 
The distribution is the combined amount of various income to that
partnership. It may include dividend income, but will probably include
many other types of income as well. You can enter the item as a
dividend in bivio and then wait for the 2006 K-1 next year and
reclassify the entry.
 
On the Atlas Pipeline homepage select the "For Information on APL K1s"
link to access the club's K-1. The website claims the information will
be available on February 23rd.
 
http://www.atlaspipelinepartners.com/home.html
 
Paul Moeller
bivio, Inc.