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1
Investors - LC / LendingClub Notes Repurchase
« Latest by rj22 on November 18, 2022, 07:34:13 PM »
Aha! Finally got data off my statements. They didn't re-purchase anything from me. My account has been accumulating $3-4/m in "recoveries" from my charged off loans. I still "own" my charged off loans, they didn't buy them from me.

This is something LC has always gotten wrong: they value charged-off loans as $0, but they are not worth $0, there is an income stream from them.

So I guess they think they can just steal my charged-off loans? I don't have any normal loans left - before it closed I had sold off everything in the 2ndary market that wasn't expiring within a year, and then just ran down the account. However I still have those charged off since you can't sell them.

Well, I guess they're probably stealing about $50 from me. Not nothing. Not worth fighting with a brick wall either.
2
Investors - LC / LendingClub Notes Repurchase
« Latest by rj22 on November 18, 2022, 07:28:58 PM »
I am here... bi-yearly  ;)

I got the email about the notes repurchase, which I ignored, and then got an email from Alto saying I needed to transfer funds, so I went and finally logged into my LC account. I saw a whopping $16 there. Tried to see some kind of transaction history, where it came from, what they bought - nada.

But I transferred the $16 out. Later on I'll deal with what to do with the Alto account, right now it just has the cash sitting there, which given the way the markets have been going laterly.. probably not a bad thing.
3
Investors - LC / LendingClub Notes Repurchase
« Latest by jameslend on October 24, 2022, 03:41:24 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.

someone is here!

thanks for the data point
4
Investors - LC / LendingClub Notes Repurchase
« Latest by mrwhizzard on October 24, 2022, 02:21:27 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.
5
Investors - LC / LendingClub Notes Repurchase
« Latest by jameslend on October 19, 2022, 05:56:56 PM »
Is anyone still on this form.

Just wondering if anyone got this notes repurchase email from them recently.
6
Investors - LC / Tax forms from transfer to Alto?
« Latest by BruiserB on March 24, 2022, 01:43:09 PM »
I've never had tax forms to deal with on an IRA transfer in the past.   Seems like this is one thing the IRS has made totally automatic.  :-)

I do the backdoor Roth IRA and there are some forms that show the withdrawal from the regular IRA and conversion to the Roth (form 5498, I think?).  I thought maybe there would be something similar here and that somehow that transfer would have to be documented.  But, yes, looks like there's nothing that has to be done!
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Investors - LC / Tax forms from transfer to Alto?
« Latest by Fred93 on March 02, 2022, 01:12:49 PM »
I've never had tax forms to deal with on an IRA transfer in the past.   Seems like this is one thing the IRS has made totally automatic.  :-)
8
Investors - LC / Re: Tax forms from transfer to Alto?
« Latest by BruiserB on March 02, 2022, 11:04:12 AM »
Found an IRS Interactive Tax Assistant....seems the answer is nothing to report!

Answers to Your Questions About Income
Do I need to report the transfer or rollover of an IRA or retirement plan on my tax return?
You do not need to include your tax-free transfer on your tax return.
Your General Information
What tax year are you asking about? 2021
Your Income
Was the distribution from an inherited retirement account? No
Distributing Account Information
What type of retirement account did the distribution come from?

Roth IRA
Was the transfer made or distribution received from the retirement account on or before December 31, 2021? Yes
A distribution may be made from all of an individual’s eligible retirement plans for the birth or adoption of their child. These distributions are limited to a total of $5,000 for each birth or adoption.

Are you asking about the repayment of a distribution taken within one year of the date on which your child was born or the adoption of your child became final? No
Are you asking about the repayment of a qualified coronavirus-related distribution? No
Was the distribution moved in a direct transfer from one account to the other? Yes
Time Limit and Waiting Period Information
Was the amount rolled over the result of an improper Internal Revenue Service levy? No
Receiving Account Information
What type of retirement account was the distribution moved to? Roth IRA
Disaster Distributions
Repayments of a distribution may be allowed when your main home was in certain Presidentially declared disaster areas or if you received a distribution to purchase or construct a main home that was not purchased or constructed because of the disaster.

Are you asking about the repayment of a disaster distribution? No
9
Investors - LC / Tax forms from transfer to Alto?
« Latest by BruiserB on March 02, 2022, 10:43:32 AM »
OK, I transferred everything from Strata to Alto last year.  Are there any tax forms that will come out from that?  I thought there would be something showing a "withdrawl" form Strata and then an accompanying form showing everything was rolled into Alto.  I just logged into my old Strata account and there are no documents available there.

Is anyone still around these forums?  Hopefully someone can advise.
10
General P2P Lending Discussion / sharestates? (real estate p2p)
« Latest by flyp52 on December 20, 2021, 12:26:15 PM »
Thanks for the detailed summary! I decided to try groundfloor out, invest in some loans that mature in the next few months..