club_cafe: MD club; DC resident: what must we do on MD 510 form?

iras1 on

Correct. All members are listed. Schedule B reports the same income as the federal K-1. Just add lines 5, 6a, 8, 9a, and 11. Assets transferred as part of a withdrawal are not reported on Schedule B of Form 510.

Ira Smilovitz

In a message dated 03/09/08 7:02:31 P.M. Eastern Daylight Time, etana_finkler@bivio.com writes:

I assume on the MD 510 B, we must list current members and
also members who withdrew in 2007?

One member lives in WashingtonDC. The club is in Maryland.
What must we do? She got about $4500 tranferred securities
and about $500 cash when she withdrew

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