Use this page to enter charges that appear on a Form 1099 that the club receives from a company. The company also sends a copy of the 1099 form to the IRS. Charges that can appear on the 1099 form include service or administrative charges, and commission paid by the company for reinvested distributions. If a company pays these charges, the IRS considers the payment income to the club.

A charges paid by company transaction increases the cost basis of a security. This increase in cost basis is allocated to tax lots which were acquired between the beginning of the year the transaction is dated for, and the date of the charges. If your club did not acquire tax lots of a security during the calendar year, the transaction cannot be recorded. If this happens, the system will ask you to check the transaction date, or record any tax lot aquiring transactions first before proceeding.

Be sure that you have not already entered all or part of the charge on a security transaction page (Reinvested Distribution is the most common) before you enter this kind of transaction. You can check by looking at the transaction list for the security in question, or by looking at the Individual Security Ledger report for the security.