Unrealized Long Term gains, Member Withdrawl, and double taxation
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Unrealized Long Term gains, Member Withdrawl, and double taxation Well, the subject says it all. We've got a slew of unrealized long term gains. We've also got a few members leaving. Now, I've seen the withdrawl report and how they will be responsible for their gains on a Schedule-D. The question I've got is how can we account for those taxes being paid (within the club) so that when we finally do sell those securities, we can recognize that some of the long-term capital gains taxes have already been paid, and not pay it again. Gotta be a common thing. Thanks! -Mezz |
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