[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.p...c,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.
<span class="quoteheader"><span class="topslice_quote"> 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 &quot;Wash sale rule disallowed&quot;, 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&#039;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&#039;t reported by LC. Box 1f and 1g were changed from &quot;Code&quot; and &quot;Adjustment&quot; to &quot;Accrued Market Discount&quot; and &quot;Wash Sale Not Allowed&quot;, both of which are blank on all notes sold.

[Lovinglifestyle]

<span class="quoteheader"><span class="topslice_quote"> from: SLCPaladin on January 28, 2017, 10:55:23 AM

[rawraw]

Has anyone had success importing into Turbotax?

[TravelingPennies]

Last couple years, yes. I&#039;m still working on my business taxes and haven&#039;t made it to the personal side yet.

[TravelingPennies]

I&#039;ve done it before, but getting errors this time. Interestingly enough, Turbotax is saying the IRS doesn&#039;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]

<span class="quoteheader"><span class="topslice_quote"> 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&#039;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.