Reporting personal distributions on a Final K1 on their taxesThis is not a problem with the tax reporting by bivio, but a problem with how to report the distributions. Couple of our members recevied a Final K-1 form. They are asking how they would report the distribution they got from the partnership. They specifically ...

Re: Disbanding Club--Tax FilingVonda Rodriguez wrote: > Will the Bivio software calculate for 1/1/05-disbanding date versus 2004? Yes. We're sorry to hear your club is disbanding. There are several things that need to be done. 1) You'll need to sell all of your investments through your broker and ...

Club DissolutionMy club dissolved late during 2006. I'm trying to complete the final part-year tax return. When I click through to prepare the 2006 return, I am not prompted to begin preparing the return (maybe forms are being uploaded?). Unfortunately, my subscription ends 1/20/07 and I ...

RE: closing a clubThe disbanding instructions call for withdrawing all members (assumedly including the club treasurer), then preparing the final tax return. If the treasurer is withdrawn, aren't his/her access priveleges to Bivio similarly withdrawn? If so, how could the treasurer get back in to prepare the final ...

RE: RE: closing a clubI'm a bit puzzled. At the end of the year, much ado is made about waiting to file the club's tax return until the final 1099 is received from the broker. Yet here, the requirement is to file in mid-year. Is this yet another example ...

Re: club_cafe: RE: RE: closing a clubThat's correct. The reason for waiting (in a normal year) until the final 1099 is received is to avoid the hassle of having your members file amended personal returns. The IRS is more than willing to have you file an amended return in early 2011 ...

Re: [club_cafe] 2011 Taxes for Disbanded ClubThe 2011 tax forms won't be available until after the IRS releases them, typically in December 2011 or January 2012. You can file your final return using the 2010 forms. Just make sure that you enter the appropriate dates (January 1, 2011 to the end ...

Re: [club_cafe] Re: Our club is breaking upOur club has disbanded and we have sold all our stock and distributed all the funds.A How do I use Bivio to prepare the final tax return? Thanks. Linda Buckner On Thu, Apr 21, 2016 at 9:20 AM, Laurie Frederiksen < laurie@bivio.biz > wrote: Just ...

Re: [club_cafe] Club Disbandinglaurie, thanks for the response. Yes I now see on the 1065 a check box under item G that says "Final Return". What I don't see is any place for the actual Date of partnership termination. So, the IRS assumes that I'm complying with the ...

Final K-1 Box not checkedI started to notify our members they can now access their K-1s, but I noticed the "Final K-1" box at the top of our 1065 is not checked. Is this a problem? Lori Johnson

Re: turbotax and club disbandingthank you for your rapid response. I received 3 withdrawal reports in 2023. If I add up "(A) adjusted basis" from all three reports and subtract the sum of all three amounts of "(B) members cost basis of property distributed", it is a much larger ...

Re: [club_cafe] Re: turbotax and club disbandingYou need to be sure that the withdrawal reports you are using were generated at yearA end as there can be changes. As a tax professional with the 4/15 deadline looming for my paying clients, I can't devote more effort to this until after the ...

Re: [club_cafe] Closing out the club booksDear Cynthia, If the stock is transferred before the ex dividend date, the new owner will receive the dividend. If the club still owns it on the ex dividend date, the club will receive it. If the club will receive the dividend, you will need ...

Re: [club_cafe] Metronic (MDT) Tax Joy - ContinuedSorry I didn't clearly say that I was referring to the 2015 figures: the "final" percentages and the 2015 estimates on our revised 1099 only differ by a few cents. Whew! No need for an 2015 amended return. From: Laurie Frederiksen <laurie@bivio.biz> To: The Club ...

Re: club_cafe: Steps to Shutdown an Investment Club via Bivio?In a message dated 8/23/2007 1:03:50 P.M. Eastern Daylight Time, biegelboy@bivio.com writes: Hello - Would someone please provide me a play by play of how-to shutdown/closeout an investment club via bivio, and all the other steps needed to file for tax purposes, too? The instructions ...