Our auditing committee asked me where and how the figures in
the last two lines on the Transaction report came from?
That is, how are they calculated? Do the pertain only to
the members who withdrew or to all the members of the club?
These two lines are Member withdrawal allocations and Member
year-end allocations.
Roy

Royal,

In terms of "Member year-end allocations", compare the
numbers in that row with the totals on the Member Tax
Allocation report.

On my Transaction Ledger, the "Member" value si the same as
"Net Profit" on my Member Tax Allocations report (but with
the opposite sign).

"Dividend and Interest" (on Transaction Ledger) equals the
sum of "Dividends", "Qualified Dividends" and "Interest" (on
Member Tax Allocations).

"Investment Sale Gain" (on Transaction Ledger) equals the
sum of "Short-Term Capital Gain" and "Long-Term Capital
Gain" (on Member Tax Allocations).

"Misc. Income" equals the sum of "Foreign Tax" and "Misc.
Expense" (with the opposite sign).

Does that help you understand where the numbers come from?

-Jim Thomas

Thank you Jim, Ira, and Rob for your reply to my questions.
Roy



Jim Thomas wrote:
> Royal,
>
> In terms of "Member year-end allocations", compare the
> numbers in that row with the totals on the Member Tax
> Allocation report.
>
> On my Transaction Ledger, the "Member" value si the same as
> "Net Profit" on my Member Tax Allocations report (but with
> the opposite sign).
>
> "Dividend and Interest" (on Transaction Ledger) equals the
> sum of "Dividends", "Qualified Dividends" and "Interest" (on
> Member Tax Allocations).
>
> "Investment Sale Gain" (on Transaction Ledger) equals the
> sum of "Short-Term Capital Gain" and "Long-Term Capital
> Gain" (on Member Tax Allocations).
>
> "Misc. Income" equals the sum of "Foreign Tax" and "Misc.
> Expense" (with the opposite sign).
>
> Does that help you understand where the numbers come from?
>
> -Jim Thomas