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Toolkit 6
StockCentral
Club Fundamentals
FAQ notes relating to non-technical questions about clubs
Where do the Form 1065, schedule D, and K-1 entries come from in Club Accounting?
How do we handle a "non-dividend distribution"?
Who needs to file tax returns?
When should I prepare my taxes?
How do I close my books for the year?
Where do I file the tax forms?
When will myICLUB Club Tax software be available?
How do I dissolve or disband my club?
Record a Merger in myICLUB.com
Record a Spinoff in myICLUB.com
Record a Stock Split in myICLUB.com
How can we perform a club audit?
Why do I need to choose what cost basis was or was not reported, when working on the club's taxes?
How can I tell if a dividend is qualified or not?
Record a Foreign Tax transaction in myICLUB.com
What is Compound Annual Return (CAR) and how is it calculated?
Finding files after downloading.
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
After 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 is counted as an investment expense?
How do we handle shares owned through a broker and directly with a company?
Cost Basis of Transferred Securities in a withdrawal
Entering a withdrawal using the ICLUBcentral accounting system.
Supported and Unsupported Securities and Transactions
How to handle an ADR management fee , Foreign transaction tax, Foreign Financial Transaction Fee
Size Diversification Reports
One of our member's payment checks bounced and the club was charged an “insufficient funds” fee.
Record a Merger plus Cash transaction
Money or shares received after disbanding
Finding and correcting issues when the bank or broker balance is more than a few cents out of balance
Specific stock prices are zero (0.00) on the portfolio screen or valuation.
Adjusting reclassified Dividends
Revocable Trusts in Club Accounting
View/Edit Transactions
Monthly Report
Pre-Meeting Wizard
Post-Meeting Wizard
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.
Key Accounting Differences Between myICLUB.com and Bivio
Club Members in Different States
Corporate Transparency Act - New Federal Reporting Requirements for LLCs and LLPs in 2024
Why does BetterInvesting / ICLUBcentral / myICLUB require we enter SSN in myICLUB?
Members paying directly to a club bank or broker
Corporate Transparency Act / beneficial ownership information (BOI)
Why we advise against using a Dividend Reinvestment Plan (DRIP)
Steps when switching brokers - change broker - new broker - change brokerage
Foreign tax reclaim adjustment