In connection with your investment at Lending Club, you may receive a Consolidated 1099 Package for 2018 containing certain tax forms.
Tax treatment and reporting is dependent on the type of Lending Club account you have. In general, interest and other payments received in a Lending Club account are taxable. Retirement accounts, such as an Individual Retirement Account or Roth IRA, are generally tax-deferred.
Lending Club has a Tax Guide for Retail Investors available on their website designed to provide general information about the tax forms and answers to frequently asked tax questions.
This year, they have also added a helpful section on their website with step-by-step instructions for Importing Lending Club tax forms to Turbo Tax.
Lending Club does not provide tax, financial or legal advice and this document is not intended to be tax, financial or legal advice. Lending Club recommends that you consult your financial or tax advisor if you have any questions.
Visit Lending Club’s tax help section for more information on filing taxes for a Lending Club account.