disbanding--stock transfer

Nancy Yonemitsu on

I've gone through all the disbanding steps and printed
withdrawal reports, but for some reason, bivio has adjusted
cost basis amounts for the transferred stocks for one
member, but the other members' adjusted cost basis are zero.
I can't figure out why the disparity between members when we
all were members for approximately the same time and
contributed the same amounts.

iras1 on

I would suggest contacting bivio support who can review your records and confirm they are correct. What probably happened is that most of your members received more cash than their adjusted tax basis, so that they have a capital gain to report and any stock is received with $0 basis. The other member received less cash than his/her adjusted tax basis, so that s/he has no capital gain to report (yet) and his/her remaining tax basis is transferred to the shares received.

Ira Smilovitz

In a message dated 06/10/11 21:51:56 Eastern Daylight Time, nyonemitsu1@yahoo.com writes:

I've gone through all the disbanding steps and printed
withdrawal reports, but for some reason, bivio has adjusted
cost basis amounts for the transferred stocks for one
member, but the other members' adjusted cost basis are zero.
I can't figure out why the disparity between members when we
all were members for approximately the same time and
contributed the same amounts.

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