We terminated our investment club in August and i was wondering if anyone knew what we have to do about filing a short 1065 return with the IRS? Also, is there anything else we have to do when we terminate?
What would be the advantage to either buying stock now with the dividend or paying the dues? Is the dues due at the end of Dec.? If we buy stock, will we use this month's income to pay the dues? I'm not sure of all ...
What would be the advantage to either buying stock now with the dividend or paying the dues? Is the dues due at the end of Dec.? If we buy stock, will we use this month's income to pay the dues? I'm not sure of all ...
Valuation shows .0587 shares for a stock that we no longer hold. Bivio & TRP monthly report check out in all respects except for this. How do I close out this item? Ray Marchand
Ray, You will have to file NY Form IT-204 and Form IT-204-ATT. On Form IT-204 you will complete the header and items A-G. You will include only the NY resident partner(s) on Form IT-204-ATT. For more information, see the section titled "Specific Instructions" on page ...
Buying gold is not a wise idea for many reasons. First is the problem of valuation. Gold bars will generally not be worth the same as gold coins of equal gold weight. Second is the issue of taxation. Profits on gold are not typical short/long ...
The IRS will know when you check "final return". However, you may need to notify your state that you are dissolving. Ira Smilovitz In a message dated 11/16/2004 4:18:44 PM Eastern Standard Time, icecold@bivio.com writes: When dissolving a club, must we notify the IRS regarding ...
When dissolving a club, must we notify the IRS regarding the federal ID number that won't be in use anymore, or will this be taken care of with our final tax return?
Our club was having issues with attendance in 2003. We had always met every month on the third Thursday. For 2004 we decided to meet every other month. The results have not been positive, and we are looking at resuming monthly meetings. Our club is ...
We have chosen Muriel Siebert as the broker for our new club -- any chance this broker will be added to the bivio family so that we can use the Account Sync option? Jan Dickson
I and another member of our club have received a few e-mails with our club's short name in the topic. I'm not yet sure if all members have received them, but this is more than a little disconcerting. I went ahead and opened one of ...
Does anybody know how one can enter a future valuation date in Bivio? Does anybody know how I can access my AIRR as a member? Would you know of a better way to record the selling of covered calls besides putting it into the stock ...
Yes. Ira Smilovitz In a message dated 11/9/2004 12:28:37 PM Eastern Standard Time, ted_metro@bivio.com writes: One last question, I apologize, but thank you for the excellent responses. So capital gains/losses would be treated similarly as dividends in regards to increasing or decreasing a tax basis?? ...
Increase or decrease (if expenses/losses are greater than income). Actually the change doesn't necessarily equal the taxable portion reported on the K-1 forms because nondeductible expenses and returns of capital also affect the tax basis. But the concept is the same. You can see the ...