Approximately how long should members of the club wait to file their personal taxes after the club has sent in all the tax forms to the IRS. Is there a certain amount of time that is needed for the IRS to process the club taxes ...
Hello, Would it be possible to set up a club which relies on a stock picking service for potential investments? The investments would last no longer than a week and some may only last a day or so. The service would suggest a few stocks ...
Hi all! I'm getting ready to do our club taxes tonight. We started the club in October, and opened a non-interest-bearing checking account. We just received confirmation that our brokerage account has been approved, so we have no holdings and no interest earned. My question ...
As a new investment club we registered with the IRS and we got our Federal Tax ID number, but with the State of Illinois it is a little less clear what we need to do as an investment club and whether our partnership has to ...
I don't kow what happened, but all of a sudden members that withdrew from our club years ago are showing up in our Member Roster - What button do I click to make them disappear? Can I just delete them? They had no activities in ...
We are interested in adding a new member or two to our club. We decided early on that we wanted to keep equal percentage ownership in our club for all members so that we won't run into issues where somebody with a higher percentage ownership ...
I just got our 1099 from one of the companies we purchased stock from directly. Their 1099 shows Ordinary dividends, Capital gain distr, qual 5-year gain and Unrecap Sec. 1250 gain. How do I enter these in Bivio in order that our 1065 will match ...
Our club had a Five Year Capital Gain. It is listed on the Capital Gains and Losses Report available after the yearly distribution. This number does not show up on the 1065 or on the individual K-1s as a Qualified 5 year gain on line ...
I have two questions. We have a member out of state, for a club residing in Illinois. My question is regarding income allocation. My understanding is that since the partnership is an Illinois entity, just as an individual in Illinois, that all income and expense ...
Do investment club members need to file Schedule E with their 1040s? Or is all investment club activity reported solely on Schedules B & D? Thanks, Sam
In trying to do our club's taxes does anyone else have any porblem with having line J automaticay fill in on the schedule k-1s. It has to do with the capital accounts of the club. Is there something I need to do to make that ...
What is the correct method to calculated our investment portfolios annual return? Do we use the reports that show "Average Annualized Refurn"? Is that a correct method? Or do we use the change in NAV from Jan to Dec 31? Thanks
On 1-28-02 Buy and Hold made an announcement that they were being acquired by Fahnestock Securities. Also in this announcement they reported that their parent company was filing for chapter 11. The question I have is what does this mean for the current account holders ...