Clicky

  • Welcome to P2P Lending / NFT Lending Forum.
 

ETH.LOAN

News:

This was the original Lend Academy peer-to-peer lending forum, since forensically restored by deBanked and now reintroduced to eth.loan.

To restore access to your user account, email [email protected]. We apologize for errors you may experience during the recovery.

Main Menu
NEW LOANS:   | 804.eth 2.500 Ξ | remoraid.eth 0.299 Ξ | remoraid.eth 0.299 Ξ | ALL

Menu

Show posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.

Show posts Menu

Messages - mrwhizzard

#1
Investors - LC / LendingClub Notes Repurchase
October 24, 2022, 02:21:27 PM
Quote from: jameslend on October 19, 2022, 05:56:56 PM
Just wondering if anyone got this notes repurchase email from them recently.
I did not. But I am down to my last active note, so I am probably not part of the target audience for such a message.
#2
Investors - P / Good Returns on Prosper?
December 31, 1969, 06:00:00 PM
https://forum.lendacademy.com/index.php?topic=21712.msg62248#msg88888888Quote"> from: RetailAnalyst_Help on November 02, 2020, 05:05:47 PM
#3
Investors - P / Prosper 1099 - "Collectibles"
March 08, 2020, 11:00:00 PM
#4
The Prosper 1099B has always been lacking. No basis reporting to the IRS (which means that, technically, the individual transactions need to be reported); no summary of short-term vs long-term totals; charged off and recovered amounts always listed as separate transactions, even when occurring in the same year; etc.

This year, I've found something new to complain about. It seems that Prosper has decided to report reversed recovery transactions as well, along with the reversal. Here's one extreme case (note that these are all from the same note):

Quote
#5
Off Topic / Cash Parking
January 22, 2020, 11:00:00 PM
#7
Investors - P / Worst Month Yet, Prosper Version
October 27, 2019, 11:00:00 PM
#8
Investors - LC / Available Cash -$1.49
December 31, 1969, 06:00:00 PM
#9
Investing - General (not P2P) / Net Investment Income Tax
February 13, 2019, 11:00:00 PM
I'm not sure if this is really the right forum to ask this question, but I figured some of you might also have to fill out Form 8960 (Net Investment Income Tax). My questions are regarding line 9B. The form instructions say that this line should "Include state, local, and foreign income taxes you paid for the tax year that are attributable to net investment income" and that you can use "any reasonable method" to determine that amount.

(1) It seems that most of the tax prep software uses something like "(schedule A line 5A) * (net investment income) / (adjusted gross income)". This doesn't seem reasonable to me because Schedule A line 5A is taxes paid during the tax year, rather than taxes paid for the tax year. For example, 5A could include a large end-of-year payment for 2017 that I paid when filing my taxes in 2018. Or, it could include a very large overpayment of 2018 taxes that will be mostly refunded in 2019.

(2) It is unclear to me from the instructions whether the $10k limit on state and local taxes which applies to itemized deductions also affects from 8960. The 8960 instructions say that line 9B can include "State, local, and foreign income taxes if properly deducted on your return when calculating your U.S. regular income tax" (emphasis mine). This would, in my opinion, tend to limit you to the $10k, since nothing over that amount is deducted on your return.

Any opinions that might shed some light here?

Here's a link to the instructions:
https://www.irs.gov/pub/irs-pdf/i8960.pdf" class="bbc_link" target="_blank">https://www.irs.gov/pub/irs-pdf/i8960.pdf
#10
Foliofn - LC / Looking to buy Historic Folio data
August 19, 2018, 11:00:00 PM
#11
Investors - LC / New Platform
December 31, 1969, 06:00:00 PM
I did complain to LC about it, and got a more or less canned response. Basically, they know that there are issues with the new interface, but they didn't care enough to fix them before rolling it out... Yay.

Quote
#12
Investors - LC / New Platform
December 31, 1969, 06:00:00 PM
Yeah, that's really annoying. And even though it shows a portfolio filter at the top, it's greyed out for me.
#14
Investors - P / Prosper 1099 Tax forms for tax year 2017
February 08, 2018, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=4811.msg43003#msg88888888Quote"> from: ambivalentonprosper on February 09, 2018, 05:42:28 PM
#15
Investors - LC / tax question: "worthless security"?
February 08, 2018, 11:00:00 PM
I'm using TaxAct this year, and after importing all of my LC and Prosper 1099-B transactions, TaxAct is flagging a warning regarding each of the transactions with a $0 "proceeds" (which is the case for all the charge-off's that have had no recoveries so far):

Quote