Our club has 2 complicated issues. The first concerns our
REIT which we have since sold. On our statements we
received 2 dividends of $71.00( 7/16/07 and 10/15/07) for a
total of $142.00. On the 1099 details page.. it shows
Div(box 1a) $30.70, Total Cap gain(box2a) $98.00 and
Unrecap gain(box2b) $33.48. If I pick up the $13.30
reported as non dividend(box3) from the 1099-Div page The
numbers add up $142 not counting the unrecap gain. My
problem is how do I enter these, do I divide all in half and
enter them on 7/16 and 10/15. What happens to the $33.48
unre cap gain then.
2nd concern is on our Brazil ETF. On our statement in Jan
2008 we received $77.43 div and 12.83 S/T gain and 30.05 L/T
gain but reportable in 2007. On the 1099 details page ..it
shows div 89.26 and 12.83 S/T gain(box 1a) I have now
figured out this includes 11.83 foreign tax. In box 1b Qual
div it shows 6.49...IS this also included in the 89.26 in
box 1a..as the numbers do not add up. then in box 2a we
find the Total cap gain of 30.05.
 Entering these into Bivio will take several differernt
 entries on different pages. Thank goodness my term as
 treasurer will be up in June.

Rip West wrote:
> Issue#1 - I would divide them in half, as you say, and
> ignore the 33.48 1250 gain, which is a part of the total capital
> gain.
>  
> Issue#2 - First, you have to get this income into the year
> 2007. I would do this by entering 89.26 as a dividend on 12/31 with 11.83
> foreign tax withheld. Use the suspense account for this. Then, on the same date,
> again using the suspense account, enter 30.05 as a l-t cap gain dividend.
> Finally, adust/reenter any transaction that you have in January for the Brazil
> ETF to be a transfer from cash to Suspense.
>
> Rip West
> Saint Paul,
> MN
  Thanks Rip.
Issue #2. I don't understand why I would need to put these
entries into suspense if I am changing the date to 07
instead of 08. This way too complicated for little brain to
comprehend.
Patsy Hagen
Grove,OK