As treasurer I sold all of our holdings as of 12/31/2007 -
however the fractional shares sold on 1/2/2008.

So - am I going to have to file another tax return for 2008
for those fractional shares?

Roxie

Roxanne Kellam wrote:
> So - am I going to have to file another tax return for 2008
> for those fractional shares?

As Ira explained, you'll probably be getting some dividends
at the end of the first quarter that were earned while you
still held the stock in December. You should probably wait
until those dividends clear before entering the withdrawals
for all the members and distributing the money. I have only
a little bit to add to that.

After May, our software will let you create a "partial year
return": a tax return with the 2008 data filled in on 2007
forms. When you close your club mid-year, the IRS expects a
partial year return within 90 days of the date the club
closed. So you'll have 90 days after you enter the member
withdrawals in which to complete the partial year return.

Eric Dobbs
bivio Inc.