Selling notes--how to report

[Erin K]

Does anyone know how we should report notes sold on the Folio Platform when trading from your Lending Club Roth IRA account? Especially if the notes are sold without making a profit.

[Peter]

https://forum.lendacademy.com/index.php?topic=187.msg595#msg88888888Quote"> from: Erin K on August 05, 2012, 07:56:28 AM

[Blake]

https://forum.lendacademy.com/index.php?topic=187.msg596#msg88888888Quote"> from: Peter on August 06, 2012, 11:12:15 AM

[thezinfan]

barcebal, not quite sure what you are asking (IRA or non-IRA account).

Erin K - For IRA account, you don't report anything except for deposits or withdrawals on the account itself.

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=187.msg763#msg88888888Quote"> from: thezinfan on October 25, 2012, 03:28:41 PM

[TravelingPennies]

I covered all this in a post earlier this year:
http://www.lendacademy.com/a-guide-to-filing-your-lending-club-and-prosper-taxes/" class="bbc_link" target="_blank">http://www.lendacademy.com/a-guide-to-filing-your-lending-club-and-prosper-taxes/

The short answer is you have to report all your interest earned from Lending Club whether or not you receive a 1099.

[P2P_CT]

FolioFN generates a 1099 showing proceeds from all sales.  This information should be included on your tax return.  I'm no accountant but, but I entered this info in the same place I reported sale of stocks.