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How does Club Accounting calculate unit value and basis in a withdrawal?
The "Value to be Withdrawn" on the Withdrawal Transaction form is the number of units
that member owns multiplied by the unit value set on the last valuation date.
In other words, it is the value of that member's share of the
club's assets. The basis before withdrawal is the money that the member has invested in
the club, plus or minus whatever income and expenses were previously distributed to the
member for taxes. The basis of the member's units after withdrawal is reduced by the
amount of the withdrawal.
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