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I received a 1099B form from LendingClub instead of a 1099OID, but TurboTax still wants me to enter the details of a 1099OID that I don't. What should I do?
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January 31, 2020
2:04 PM
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Get your taxes done using TurboTax
Lending Club issues both 1099-B's and 1099-OID's.
Click the link for a guide from Lending Club on how to Import your 1099's into TurboTax. .
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January 31, 2020
2:28 PM
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Yeah and when I do the import all I get is the 1099B. I even checked the pdf tax statement and there is no 1099 oid. Anybody know if I need to fill out 1099 OID? (I assume I do because my income is interest and losses are counted in the investment category).
March 20, 2021
11:16 AM
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It depends. If you had less than $10 in earnings from LendingClub, then they would not be required to issue Form 1099-OID. However you would still be required to report any amount staring from $1.
It seems this may be the case since your import did not include and OID. Please update with any additional questions.
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March 21, 2021
11:30 AM