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Pertner percentages
According to our member list and our partnership documentation, each of our partners own 5% of the partnership. However, according to the K-1s two of our partners have much lower percentages. How do I get all of the percentages to be 5.0%? Julia Van de ...
4 messages
More Fun with "Dividends" - Mutual Fund Distributions
Here's another question we often get asked. Can bivio track mutual funds and ETF's? It's another one where the answer is usually yes but a qualified yes. Why do we qualify our yes? Here's what you can end up having to deal with at tax ...
6 messages
IRA member guidance on K1's
Hello, There is 1 member in our club that invested under his IRA. I'm assuming when i fill out the tax questionaire i should select his entity type as "nominee IRA" in the drop down. Thanks in advance for your help, Scott
2 messages
TMP and 1099
Thanks in advance Do we have to put a name in for TMP on Form 1065, Schedule B? Also, is it necessary to mail 1099 from broker to IRS with K-1's and 1065? Thank you! Johnny
2 messages
Audit Prep
While compiling the forms for our audit I noticed the bivio gain/loss report does not match the folio gain loss statement in regards to the cost basis. bivio shows a gain and Folio shows a loss. How do we proceed? Thanks for your help Sue ...
2 messages
Non-Covered Securities Are Not Ones You Can Ignore
It seems that many of you don't understand the sections of your 1099 - B where "Non-Covered" Securities are reported. They are sections B (short term) and section E (long term) Non Covered securities were purchased prior to the cost basis reporting laws being implemented. ...
1 message
REIT's - In Living Color
Some of you ask why we recommend that you not invest in REIT's in your investment club. The answer is, because we want you to have simple accounting and record keeping for your club. Here's what you are up against if you invest in a ...
1 message
Tax copies
I meant to say I DON'T see how this can work Original Message From: Jim Thomas To: club_cafe@bivio.com Sent: Monday, February 17, 2014 9:01 PM Subject: Re: [club_cafe] Re: Tax copies I see how this can work with the free CutePDF Writer (which is just ...
1 message
transaction types
Several questions regarding differences in transaction types noted by TD Ameritrade and bivio: Mattel Inc (MAT): broker lists as nondividend distribution and bivo as qualified dividend. Should this be a return of capital? The remaining stocks are listed by the broker as qualified dividend and ...
2 messages
2013 Tax Program Released!
The 2013 tax program is now available for you to use to prepare your club taxes. You can get to it if you go to Accounting>Taxes Note that the tax preparation process requires several steps. Make sure you go through all the steps listed on ...
1 message
State Tax forms
Hi, 3 questions: 1. When will tax forms for NY and NJ be available? 2. Will I be able to prepare forms for both NY and NJ at the same time without have to trick the system (last year I had to change the club's ...
5 messages
2013 Tax Files
In prior years, I was able to download the entire return as a file, and then each individual K-1 as separate files. I don't see that capability this year, only the entire return. How do I get each K-1 as an individual file? Thank you!
2 messages
taxes
When can i do the taxes
2 messages
Cash in lieu not credited to our account
Bivio failed to pick up a fractional share of Neogen when it split 3 for 2. We received cash in lieu of .5 shares. Bivio will not let me add that cash when editing the split transaction. How can I add this amount? Further, our ...
2 messages
Are in-laws related family members for purposes of the 1065
One member of our club is the son-in-law of the of another member. Is this considered a "lineal descendent" for purposes of IRS definitions when filling out the form 1065 interview? They do not own more than 50% of the club together, so it should ...
2 messages