Re: club_cafe: Confusion over withdrawal reportIf the cash portion of Sam Chase's withdrawal is greater than his adjusted cost basis in the club, the extra cash is a capital gain and the stock(s) transferred as part of the withdrawal assume a cost basis of $0. Since you don't provide the ...

RE: [club_cafe] withdrawal reportYou 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 ...

Member made partial withdrawal in 2017One of our members made a partial withdrawal in 2017. I have the withdrawal report from Bivio and have attached the report to this message. How do I figure out how much capital gain she had? Is it the profit number at the bottom of ...

Re: [club_cafe] Member made partial withdrawal in 2017Thank you for your response!A I checked the numbers on the report when she made the partial withdrawal, and they are correct, and I concluded the same as your response. I suppose your answer begs another question.A Her account balance was north of $8300 at ...

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Member Withdrawal-Tax implicationsIn general, there isn't much difference between the K-1 an ongoing member and a withdrawn member receives -- the end of year percentage (line d) will be 0% and the final K-1 box (line i) will be checked.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: club_cafe: member withdrawalIn a message dated 6/16/2007 10:03:16 A.M. Eastern Daylight Time, jchiggins@bivio.com writes: How do I enter a member withdrawal and NOT have our account debited twice? Once when I run the member witdrawal report and again when the withdrawing member's pay out check clears the ...

Re: Re: Paying out a resigning memberThanks Rip for the clarification. I did not think about a withdrawal fee as our 21-year old club has never had a withdrawal fee, and I seriously doubt would ever do so. We want willing partners and would not want to penalize anyone who felt ...

RE: club_cafe: withdrawal feeWe have no withdrawal fee for "normal" circumstances, including death. We simply return to the member what his share is worth at the requested withdrawal date and in accordance with our Articles of Agreement. Our club has been in business for more than 50 years. ...

Re: club_cafe: Member Withdrawl PoliciesI'm with Stu. Our club has no withdraw fee and I personally wouldn't feel right about it. We've made it clear that if an emergency arises and you need the money you are free to withdraw it. Now, that being said, we do have policies ...

Re: [club_cafe] member withdrawalOur $50 initiation fee pays for the software each year.A Our 5% (voluntary withdrawal-no fee for death) discourages using the club as a savings account. We're all elderly seniors and have a high turnover. On Sun, Mar 5, 2017 at 12:22 PM, Marie-Anne Reilly < ...

Re: [club_cafe] Withdrawing memberThe part that's different is the cost basis for the stock in the partial withdrawal.A This comes into play when the person sells the stock.A It's different from the cost basis for a complete withdrawal.A As I recall (it's been a while) the cost basis ...

Reporting Partner Withdrawals on the K-1Michael asked, I run an investment club and will have a partner is making a full withdrawal. How is that reported on the K-1 since the capital account is on $1,000 but the withdrawal will be $2000? The cash amount paid out in a withdrawal ...

Re: [club_cafe] Valuation dateOur club disbanded last Sept. If you are selling all stocks (which I recommend) the valuation date doesn't matter too much as all assets will be cash, so a final member report will have each members share before withdrawals. Keep in mind there may be ...

Paying a withdrawing partnerI am faced with paying a partner for a full withdrawal and wonder how others interpret our partnership agreement. We haven't faced a full withdrawal that is done in cash before so it's new territory for us. The agreement we use states: ..when payment is ...

Re: [club_cafe] Re: Closing our club.Scott Freeman wrote (in part): A Transferring stocks is more work for the treasurer and one must interact with the broker to make sure the lots transferred in the records at bivio are the same ones transferred in the broker's records with the cost basis ...