One option is to see if you can import your 1099-B into TurboTax. Importing your 1099-B will be easier and less time consuming than manually entering each transaction. To see if you can import your 1099-B, follow these steps:
- Log into your account
- Select Income & Expenses
- Scroll down the page to Investment Income
- Select Stocks, Cryptocurrency, Mutual Funds...etc
- Respond to the questions that appear and search for Prosper Funding on the page which gives you the option to import your 1099-B.
If you cannot import your 1099-B, then you will have to manually enter the trades. On the page which gives you the option to import your 1099-B, there is the option to "Ill type it in myself."
Because basis was not reported to the IRS, you will need to complete Form 8949. In other words, you do not have the option to enter a summary of the short-term trades on Schedule D.
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