-----Original Message-----
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of
IraS1@aol.com
Sent: Wednesday, February 06, 2008 7:59 PM
To: club_cafe@bivio.com
Subject: Re: club_cafe: Broker lists all dividends as qualified

You should do what's right. How have you determined which is correct?
 
Ira Smilovitz
 
In a message dated 02/06/08 7:28:50 P.M. Eastern Standard Time,
smith1129@bivio.com writes:

        E*Trade has listed all of our dividends as qualified. Bivio
        lists several of them as not being qualified.
        
        Bivio seems to have it right. Should I just use what bivio
        says and list both qualified and non-qualified for tax
        reporting and not match the broker statement?
        




________________________________

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<http://music.aol.com/grammys/pictures/never-won-a-grammy?NCID=aolcmp0030000
0002548>

IraS1@aol.com wrote:
> You should do what's right. How have you determined which is correct?
> &nbsp;
> Ira Smilovitz
> &nbsp;
>
> In a message dated 02/06/08 7:28:50 P.M. Eastern Standard Time,
> smith1129@bivio.com writes:
> E*Trade
> has listed all of our dividends as qualified.&nbsp; Bivio
> lists several of
> them as not being qualified.
>
> Bivio seems to have it right.&nbsp; Should
> I just use what bivio
> says and list both qualified and non-qualified for
> tax
> reporting and not match the broker
> statement?
>
>
>
> Who's never won? Biggest Grammy Award surprises of all time on AOL Music.



One instance was a purchase of 100 shares of C on 10/15/07
and then sale of all shares on 11/07/07 due to a stop sale.
A dividend of $54 was paid. I believe this should be
non-qualified and bivio got it right.

The other was a $0.55 dividend from NOK that was not even
listed on the consolidated 1099. It was held a very long
time and should be qualifed.

The other items were HD and MYL that I for some reason had
listed as not qualified on the information screen. I fixed
that and these two problems went away.

I called E*Trade tonight and they said they would issue a
revised statement.

Thanks very much for replying to my query.

Dave

I made my suggestion based on the fact that I have been treasurer of 2 clubs
for many years and been using Bivio for a total of 12 years.

I assumed that the brokerage 1099 was correct and that Bivio was in error.

I don't know about E trade but I have always used Schwab and the few errors
I encountered were all in Schwab's favor.

Arthur Klages.

-----Original Message-----
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of David
Smith
Sent: Wednesday, February 06, 2008 8:43 PM
To: club_cafe@bivio.com
Subject: club_cafe: Re: Broker lists all dividends as qualified

IraS1@aol.com wrote:
> You should do what's right. How have you determined which is correct?
> &nbsp;
> Ira Smilovitz
> &nbsp;
>
> In a message dated 02/06/08 7:28:50 P.M. Eastern Standard Time,
> smith1129@bivio.com writes:
> E*Trade
> has listed all of our dividends as qualified.&nbsp; Bivio lists
> several of
> them as not being qualified.
>
> Bivio seems to have it right.&nbsp; Should
> I just use what bivio
> says and list both qualified and non-qualified for
> tax
> reporting and not match the broker
> statement?
>
>
>
> Who's never won? Biggest Grammy Award surprises of all time on AOL Music.



One instance was a purchase of 100 shares of C on 10/15/07 and then sale of
all shares on 11/07/07 due to a stop sale.
A dividend of $54 was paid. I believe this should be non-qualified and
bivio got it right.

The other was a $0.55 dividend from NOK that was not even listed on the
consolidated 1099. It was held a very long time and should be qualifed.

The other items were HD and MYL that I for some reason had listed as not
qualified on the information screen. I fixed that and these two problems
went away.

I called E*Trade tonight and they said they would issue a revised statement.

Thanks very much for replying to my query.

Dave

Arthur Klages wrote:
> I assumed that the brokerage 1099 was correct and that Bivio was in error.
>
> I don't know about E trade but I have always used Schwab and the few errors
> I encountered were all in Schwab's favor.
>
> Arthur Klages.

Our club uses Schwab also. The Schwab 1099 reports all
dividends as qualified, even the 4th qtr dividend from a
company that we only owned for 57 days (sale occurred in Jan
2008). Bivio got it right as a non-qualified dividend.

The take away lesson is that when a discrepancy between
Bivio and the broker is discvered, it is not prudent to
assume either is correct, but need to investigate the
transaction to determine what is correct.

Jack Ranby
Grants Partners Investment Club