Final DistributionsI just finished doing the final distributions for closing out our club.A However, the amounts to be distributed and the amounts that actually posted when I did the final withdrawals are off by $.01.A Riggsa€(TM) distribution from the bank account is $.01 more than her ...

Re: [club_cafe] Final K-1 Box not checkedIt is only checked for a partner that is withdrawing from the club. As in this is their final K-1. Randy D & C Investment Club Sent from my iPhone > On Feb 28, 2023, at 1:30 PM, Lori Ann Johnson via bivio.com <user*36936600001@bivio.com> wrote: ...

Re: [club_cafe] Final K-1 Box not checkedDid your club disband or did members withdraw? The final box on Form 1065 is only checked when a club disbands or on Schedule K-1 when a member fully withdraws from the club. Ira Smilovitz On Tue, Feb 28, 2023 at 1:30 PM Lori Ann ...

Dissolving a club? Final tax return.Steve recently asked We dissolved our Club in July 2000. As treasurer, I would like to know if any special return needs to be filed or what tax agencies need to be notified to insure no further actions or liabilities can be brought against any ...

RE: club_cafe: Bivio Tax questionThe only thing she lacked on the tax return was filling in one social security number for one member that had withdrawn from the club in December. She just didn't have time to print the return in final form to give to me before the ...

RE: club_cafe: Switching: Online Club Accounting to bivioThat is very generous of you Arthur and we appreciate the support. Unfortunately, we're not quite that speedy. It is not your data which we need to process we need to finish programming the tax program which you will use to prepare your taxes. We ...

Re: club_cafe: Re: Closing ClubYou do NOT want to do what you have proposed below. If you make ANY distribution to a member in 2005, you will have to file a complete set of 2005 tax returns and K-1s. There is no minimum amount of income which a partnership ...

Re: K-1's for 2002Looking at our portfolio, Duke-Weeks Realty (DRE), Ingersol-Rand(IR), Paychex(PAYX), and Philip-Morris all pay dividends. I've verified that we will have one more dividend distribution from DRE at month-end. I believe the same applies to IR. MO and PAYX are iffy. How do I enter this ...

Re: [club_cafe] WithdrawalsHi Linda, It is a good point that there may be some expense involved with tax preparation for the withdrawing member.A It does seem though that $100 is a pretty large amount for that to cost.A If it does, I can see why you'd want ...

Re: club_cafe: Terminating ClubGlenn, If you search for "final" on bivio, you'll find the relevant information. https://www.bivio.com/pub/search?s=final In short, just write "Final Return" on the forms. You may need to file 2003 tax forms if you still had activity this year. --Ion

Re: Terminating ClubThank you very much! Glenn Ion Yadigaroglu wrote: > Glenn, > If you search for "final" on bivio, you'll find the relevant > information. > > https://www.bivio.com/pub/search?s=final > > In short, just write "Final Return" on the forms. You may need to file > 2003 ...

Final K-1 for a Departing Club MemberShould the final K-1 of a departing club member display a zero in box (Je) of the K-1 "Capital account at end of year". If so, how do you reflect the amount of any unrealized loss on the books of the club relative to that ...

Re: club_cafe: Final K-1 for a Departing Club Member>>Should the final K-1 of a departing club member display a zero in box (Je) of the K-1 "Capital account at end of year". If so, how do you reflect the amount of any unrealized loss on the books of the club relative to that ...

Re: Partnership terminationI have another question, our subscription to bivio expires December 31st and since we terminated our partnership there's no reason to pay to keep it going. Is there anyway we can keep the account open long enough so we can do our final taxes and ...

Re: club_cafe: Tax Implications for Selling StockIn a message dated 2/19/2005 5:31:30 P.M. Eastern Standard Time, maxct@bivio.com writes: Our club is selling stock this year because we decided to disband. Is there a resource with information about the tax implications of the monies we will receive, i.e., tax season 2006, so ...