Re: club_cafe: Tax returnsArthur Klages writes: > Will Bivio have everything set up so the clubs using account-sync > can run their tax returns as soon as the last brokerage transaction > clears ??? Absolutely! We're in the final stages of implementing and testing our 2002 tax package. ...

Re: club_cafe: Member Withdrawal-Tax implicationsIn general, there isn't much difference between the K-1 an ongoing member and a withdrawn member receives -- the end of year percentage (line d) will be 0% and the final K-1 box (line i) will be checked. There will be entries on line(s) 22 ...

Re: Member Withdrawal-Tax implicationsIra, 1.) Where would one find the withdrawl report? 2.) What IRS form would a member use to report the loss ? Thanks! Chris IraS1@aol.com wrote: > In general, there isn't much difference between the K-1 an ongoing member and a withdrawn member receives -- ...

Re: withdrawing memberCharlie, you have two choices: 1) you can record these withdrawals as they are occuring - i.e. partial withdrawals for the first payments, and a full withdrawal for the final one, or 2) you can enter a full withdrawal on day one, and consider the ...

Re: club_cafe: Re: Re: Adding a partnerRyan J. Lucas writes: > Along the lines of this thread, does anyone know what we > need to do with regards to the IRS when a member > leaves/joins? > > I thought I read somewhere that we need to refile the > partnership ...

Re: club_cafe: Re: Re: Adding a partner>>Along the lines of this thread, does anyone know what we need to do with regards to the IRS when a member leaves/joins? >>I thought I read somewhere that we need to refile the partnership agreement, and perhaps even receive a new EIN. You don't ...

Re: club_cafe: Re: Re: Re-establishing withdrawn memberPaul, I don't think there is a problem here. I would want two K-1s. The first K-1 would be marked "final" and that would "trigger" the need to report (on the 1040) the capital gain/loss on withdrawal. The second K-1 would represent a new equity ...

Re: club_cafe: Back to withdrawals!Lynn, The easiest explanation I can think of is that someone entered an "old" (pre 10/3) transaction during the period between your experiment and the final calculation. This would have changed the total asset value of the club and, in turn, the unit value. The ...

Taxes after club disolvesI understand I have four months to submit the final tax forms to the IRS after our club disolved. This means I must submit the forms before Dec. 31st. How can I do that when the form in Bivio is for 2002? Rosalie Reed

Fw: club_cafe: Taxes after club disolvesRosalie, I have never been able to get too excited about the IRS rule to file the final partnership return within 3 1/2 months from the date of termination. I have never seen it enforced, and don't believe the IRS has any way to check ...

Dissolving a ClubOur club has had a nice run, but we've decided we no longer have the time or present interest to continue as we should thus we're dissolving the club. I understand the options for distributing the "wealth," either selling everything and distributing the cash or ...

Re: Closing a Club - Tax Form PrepRob Nagler wrote: > When you withdraw, you will still have access to the site. If your > subscription is current, you can do your taxes, and your 1065 will be > marked as final. Thanks Rob for your speedy response! Pat

Calculating by unit value?How is the capital gains/loss calculated by Bivio in the K-1's - per unit value for each member or for the member's percentage holding of each individual stock? From a quick glance, I think it might be the latter, since one member who left the ...

Re: club_cafe: Unit valuationMichelle, << I beleive I am going to need to factor this information into the number of units (if it is based on current market price) and also the value of the units. Do I have a concern here? >> No, not really. All you ...

Distribution of EarningsHi, How do I do a Distribution of Earnings report in Bivio? Our club is dissolving and we need to do our final taxes. Thanks. Sharon