[lascott]

FYI, My "2016 Consolidated 1099 Package" is available 28-Jan-2016 1:30am CST

Figured a lot of folks were waiting on this to work on their taxes. 

Update: Just tried in TurboTax but it doesn't think they are available yet. Just typing in the totals for the 1099-OID and 1099-B to see how it calc's out then will import in a few days.

[Debt Free]

Got my notices 1/26/17.

[SLCPaladin]

On the subject of taxes, the main reason I have not bought or sold notes on Folio is because the tax implications are intimidating to me. Can who has been buying and selling on Folio confirm that there is a way to plug in the data that Folio sends into Turbo Tax and have it figure out the taxes?

See this thread for more about what I am referring to:

http://forum.lendacademy.com/index.php/topic,4066.15.html

[fliphusker]

I believe there are some old threads running around here in regards to this.  Personally just dumping at the accountant and let him deal with it.  I might be too small an investor to even make a difference. 
from: SLCPaladin on January 28, 2017, 10:55:23 AM

[jz451]

For anyone who buys/sells on Folio do any notes have a value in boxes 1g and 1f. 1g on the tax form says "Wash sale rule disallowed", yet on the LC tax guide for 1099-B it says those boxes are for buying notes at a premium/discount. So does this mean that anyone who buys notes won't have these boxes reported since notes are considered simular to each other? 

edit: Just looked at the tax guide included with this years statement and last years. Looks like premium/discount when buying on folio aren't reported by LC. Box 1f and 1g were changed from "Code" and "Adjustment" to "Accrued Market Discount" and "Wash Sale Not Allowed", both of which are blank on all notes sold.

[Lovinglifestyle]

from: SLCPaladin on January 28, 2017, 10:55:23 AM

[rawraw]

Has anyone had success importing into Turbotax?

[TravelingPennies]

Last couple years, yes.  I'm still working on my business taxes and haven't made it to the personal side yet.

[TravelingPennies]

I've done it before, but getting errors this time.  Interestingly enough, Turbotax is saying the IRS doesn't require the list of transactions this year (if I did it right).  Seems like LC changed to report the data to IRS

[dr.everett]

from: rawraw on January 31, 2017, 04:05:18 PM

[brycemason]

Worked for me today! 1099-OID and 1099-B for the charge offs and recoveries.

[TravelingPennies]

I haven't tired to import the files yet, but I did get receive an email over night saying it was ready, maybe it just went live for Turbo tax.