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Fundamentals

FAQ notes relating to non-technical questions about clubs

  • Who needs to file tax returns?
  • How can we perform a club audit?
  • How can I tell if a dividend should be qualified or not?
  • What is Compound Annual Return (CAR) and how is it calculated?
  • What are Record Date and Ex-div (Ex-dividend) date, and how do they relate to Trade date and Settlement Date?
  • Can I use ICLUBcentral programs, sites or services on a Mac, or iPad?
  • Wash Sales
  • Before your next meeting
  • Finding Stock Split information
  • Handling BetterInvesting (BI) Dues
  • Can members pay ahead ?
  • Can a new member join a club at the same value as all the other members?
  • What expenses are deductible?
  • How do we handle shares owned through a broker and directly with a company?
  • Cost Basis of Transferred Securities in a withdrawal
  • Revocable Trusts in Club Accounting
  • Investment Partnership Accounting for Canadian Members in a U.S.-Based Investment Club
  • Basis of Securities Transferred to a Partner in a Partial or Full Liquidation of the Partner’s Interest in an Investing Partnership.

Sticky FAQs

  • Where do the Form 1065, schedule D, and K-1 entries come from in Club Accounting?
  • Why don't my current members have K-1 forms?
  • Why don't my tax forms show up after finishing the steps in the tax printer?
  • Where do I file the tax forms?
  • When will the Club Tax Printer software be available?
  • How do I dissolve or disband my club?
  • How can we perform a club audit?
  • How can I tell if a dividend should be qualified or not?
  • Cost Basis of Transferred Securities in a withdrawal
  • Best Practices for member withdrawals
  • Q&A on K-2 and K-3 forms
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