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Lending Club to Issue Revised Tax Documents

Written by Nickel - 3 Comments

Bank Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays.

Speaking of Lending Club and tax documents… Earlier this week I received an e-mail from them stating that they will be issuing corrected 1099-OID, 1099-INT, and 1099-B forms for 2012.

They didn’t say what was wrong, but they cautioned recipients to wait for the new forms before filing. I’m also not sure if this e-mail was targeted to specific investors or if they sent it out to everyone. Either way, they’re promising that the corrected forms will be available by February 19th, 2013.

Also… If you’re the curious sort, you might be interest in this post on Lending Club and your income taxes from the archives. It’s a couple of years old but the information is still relevant.

Published on February 13th, 2013 - 3 Comments
Filed under: Saving & Investing,Taxes

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Comments (scroll down to add your own):

  1. I await the revised 1099-OID. I note that the current one shows all interest not just notes that have over 10 dollars in interest as in the past. All of my interest is in small amounts with less than $280 total. I rue the day I ever invested in LC.

    Comment by Anonymous — Feb 14th 2013 @ 2:47 pm
  2. almost there: Yeah, but they total it up for you on a single form, so at least you’re not getting dozens (or hundreds) of separate forms.

    Comment by Nickel — Feb 14th 2013 @ 4:43 pm
  3. Yeah – I got the same email. It said something about loan recoveries – so the dollar or so I had in recoveries will (I presume) be moved from the OID totals to a separate document. Very frustrating – as this dollar is causing me to have to delay filing and will almost certainly make NO difference in my taxes.

    Comment by Anonymous — Feb 15th 2013 @ 12:03 pm

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