Hi-

We have a member that needs to withdraw about 80% of his
holdings in our club. We will need to sell one of our
holdings in order to generate enough cash to pay him off.
How do I enter this transaction into our books? Also, do we
apply the capital gains tax to him personally or spread it
equally among all members?

Thanks in advance.

Marty, the sale will be handled like any other sale. The withdrawal will
be a partial cash withdrawal. Date the withdrawal after the sale. The
program will properly allocate the capital gain, don't try to tweak things.
Gene Rooks, Orlando