Consolidated Form 1099

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If you receive one, your consolidated form 1099 is a summary of the income activity on your Prosper account which has been reported to the IRS at the end of each calendar year. It will be available on the "My Account > Statements" page by January 31 of the year following the calendar year in question.

The consolidated form 1099 is particularly important because along with the year-end lender statement, it provides lenders with accounting information that may be helpful when preparing their taxes. Learn more about lender tax reporting.

The consolidated form 1099 includes the following sections:

Recipient & Payer Information

This section includes the date and period of your statement, your tax information (name, SSN, etc.), and Prosper's tax information.

Form 1099-INT

Form 1099-INT reports the full amount of interest received during the calendar year. You will receive a form 1099-INT in each tax year that you earn $600 or more in interest, unless you live in a state for which there is a reporting exception (see tax help).

Form 1099-MISC

Form 1099-MISC reports the full amount of miscellaneous income: late fees, referral awards, and group leader rewards received during the calendar year. You will receive a form 1099-MISC in each tax year that you receive $600 or more of these types of income, unless you live in a state for which there is a reporting exception (see tax help).

Form 1099-B

Form 1099-B reports proceeds received from the default sale of loans to debt buyers during the calendar year. Lenders can use these amounts along with the pre-sale amortized principal balances (available in the end-of-year lender statement) to determine their net losses from defaulted loans. Lenders are encouraged to consult their tax advisor to determine their tax basis on defaulted loans.

Will I receive a consolidated form 1099?

Most Prosper members who earn $600 or more in interest or fees will receive a consolidated form 1099. Check the lender tax reporting for state-by-state exceptions.

What if I have a question on any of the amounts shown on my tax form?

Please contact customer support if you have a question on any of the values which are reported on the Prosper-generated tax forms or end-of-year statement.

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