What tax statements can I expect to receive?
Lending Club will provide a Consolidated 1099 Package for the 2015 tax year that includes all applicable Lending Club and Folio Investing* Note Trading Platform 1099 tax information in a single place. The Consolidated 1099 Package will include information that Lending Club and Folio Investing* are required to provide to you and to the IRS. Lending Club and Folio Investing do not provide tax, financial, or legal advice and this information is not intended to be tax, financial, or legal advice. You should consult your financial or tax advisor if you have any questions.
Depending on your financial situation and the activity in your account, the Consolidated 1099 Package will include some or all of the following forms:
The IRS will match the amounts reported in the forms listed above to the amounts reported in your tax return.
Lending Club will provide a Consolidated 1099 Package for individuals, partnerships, S corporations, and trusts (for trusts established using an individual’s social security number or trusts that have an EIN) that hold taxable accounts. Lending Club is not required to and will not provide Forms 1099 for C corporations, tax-exempt organizations, tax-deferred accounts, or other entities not listed above.
All tax documents for the 2015 tax year will be available no later than January 31st. A Consolidated 1099 Package for 2015 will be posted in your Lending Club account's “Statements” section and will not be mailed. Lending Club will alert you via email when the tax documents have been posted in your account. It is your responsibility to check your account, review all information provided and consult with an accountant or tax advisor before filing your tax return.
* Folio Investments, Inc. ("Folio Investing") is a registered broker-dealer and member of FINRA and SIPC and operates the Note Trading Platform. Folio Investing is based in McLean, VA and is not affiliated with Lending Club. Folio Investing has no role in the original issuance of the Notes and is not responsible for and does not approve, endorse, review, recommend or guarantee the Notes or the accuracy, reliability, or completeness of any data or information about the Notes. More information about Folio Investing is available at www.folioinvesting.com.