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ristich
New Member

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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3 Replies
MarilynG1
Expert Alumni

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?

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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hal98x
Returning Member

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?

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).

DianeW777
Expert Alumni

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?

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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