club_cafe: Short-term capital gains from mutual funds and Etrade

iras1 on

In a message dated 02/21/08 2:07:30 P.M. Eastern Standard Time, jgreenb@bivio.com writes:

Many thanks to Ira for focusing me on the Transaction ledger
to resolve significant discrepancies between Etrade and
Bivio with respect to ordinary dividends. It appears that
Etrade considers short-term gains from mutual funds as
dividends.

Not only Etrade, the IRS says that they are reported that way.

So if I change these to dividends, I am close in matching
the two on total ordinary dividends.

I haven't looked at this specific situation personally, but I would be surprised if bivio didn't handle short-term capital gain distributions from mutual funds correctly, provided you've identified the mutual fund as such.

However, when I go in and change the reinvestment data for
these gains to reflect the source as a dividend, the
original discrepancy appears. So I am leaving the
reinvestment as coming from a short-term gain.

Which is as it should be.

Any suggestions as to what is happening here? I have given
up on getting timely feedback from Bivio.

Judith Greenberg
jgreenb@bellsouth.net

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