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Tax Information for Our Hard Loan Borrowers

Note: originally posted on LendingHome.com and LendingHome is now Kiavi.

Kiavi provides two different tax forms for the 2016 tax year, to reflect interest income as well as referral bonus income.

You will receive this form: Form description: If you are an investor who: Sample document:
1099-OID Original Issue Discount Sum of interest income (if equal to $10 and above) received from Platform Notes owned during 2016 Link to a sample 1099-OID form on IRS site
1099-MISC Miscellaneous Income Sum of other income such as referral bonuses (if equal to $600 and above) received during 2016 Link to a sample 1099-MISC form on IRS site

Kiavi will file these tax forms under the EIN or SSN number associated with the investment account during registration. You will receive more than one form if you have multiple investment accounts. The 1099-OID forms will be available on the site no later than January 31st. The 1099-MISC forms will be mailed no later than January 31st.

Where can I find my tax documents?

To locate your tax documents, log into your Kiavi account and click on the "Activity" tab. On the left-hand site, click on "Platform Notes." You will find the 1099-OID tax documents alongside your signed Note Purchase Agreement and Platform Notes no later than January 31st. If you are receiving a 1099-MISC, Kiavi will mail those to the address you provided when you registered your account.

What is reported on my 1099-OID form?

Form 1099-OID from Kiavi shows net interest payments, which include interest income, late fee income, and net accrued interest income. See the IRS site for a sample 1099-OID form.

Can Kiavi help with additional tax questions?

Kiavi cannot provide tax advice. If you have additional tax-related questions, please contact your financial or tax advisor.

>Note: The information in this document is directed at retail investors who hold Notes from Kiavi and who file a Federal Form 1040. It is not meant for other clients, including clients with separately managed accounts. This Tax Guide is designed to provide general information about the tax forms and answers to frequently asked tax questions. Kiavi does not provide tax, financial or legal advice. The information herein is general and educational in nature and should not be considered tax, financial or legal advice. Kiavi recommends that you consult your financial or tax advisor if you have any questions.

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Disclaimer

The above is provided as a convenience and for informational purposes only; it does not constitute an endorsement or an approval by Kiavi of any of the products, services or opinions of the corporation or organization or individual. The information provided does not, and is not intended to, constitute legal, tax, or investment advice. Kiavi bears no responsibility for the accuracy, legality, or content of any external content sources.