If Investment club is registered in Ohio, do they have to file for Ohio state tax? is there any form similar to federal 1065 for Ohio? If yes can you point link to form number and download site? Thanks
The IRS does not determine cost basis. The broker reports it based on tax law. They do not always do it correctly so there is a column on IRS Form 8949 for adjustments when necessary. Cost is the price of buying stock including commissions and ...
I am just wondering how Bivio and the IRS determines cost basis with the brokerage commission when buying and selling stocks. Is the commission amount part of the cost basis when you buy a stock, and when you sell is the commission deducted from any ...
I suspect there are many in this crowd who, like me, consider themselves do-it-yourselfers.A After all,A that's what bivio is.A A program you can use for do-it-yourself investment club accounting and tax preparation. Anybody have any thoughts on the Etsy IPO?A Do you buy or ...
Just saw this link on one of my Accounting blogs.A Looks like some great gift ideas here if you want to show your club treasurer how much you appreciate them! Tax Season Survivor Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! A ...
Our Club incorporated in 1994 and we have all tax records since the beginning. We need to purge some of our other records. I keep a file for Monthly Reports, Attendance and Deposits (Payments) TDAmeritrade Statements and Taxes. How long is it necessary for us ...
It was a partial wd. There is a figure in 19a and 19c. On Thursday 26/03/2015 at 6:28 pm, ira smilovitz wrote: Was it a partial withdrawal or a full withdrawal? BTW, the entry should be in 19A, not 19C. Ira Smilovitz On Thu, Mar ...
Can someone explain why the K1 of a member who withdrew funds shows distributions 19C (other property) as the club's cost basis and not the member's cost basis?
I am suspicious of any major company in the U.S. that does not produce an annual report to its stockholders. Qualcomm feels that the financials they file with the government should be adequate but I disagree. Most companies bite the bullet and tell you how ...
For those who don't ready Morgan Housel yet,A I'd highly recommend his writings.A Here's his latest: What's Wrong With Finance I think a lot of us are in investment clubs because we don't want to depend on those who benefit when we trade versus when ...
You do not need to do anything with the withdrawal report aside from giving it to the member. Hopefully his tax preparer will know what to do with it. The k-1 for that member should have FINAL checked at the top and should show a ...
So the withdrawal report is given to the member who has withdrawn along with the K-1 for taxes. Does the club need to do anything with the withdrawing member's withdrawal report in regard to taxes? The withdrawal report does not go to the IRS' correct?