Multiple Investment Strategies Inside One Bivio Account?
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Multiple Investment Strategies Inside One Bivio Account? Currently running BIVIO with 2 active members and one investment strategy i.e. Peer to Peer (P2P) Lending with Prosper Inc. Now want to add an additional investment strategy of equity trading with TDAmeritrade and 4 additional active members for a total of 6. The 4 new members don't want to participate in the existing P2P strategy but all 6 members will participate in the new equity strategy. Q. Is there anyway our existing Bivio account can handle this complicated situation? Is the best solution to open another Bivio account and keep the two strategies and member lists totally separate? HAREBL LLC Member since 2003 As an lender in Prosper myself how do you handle the Prosper taxes? John On Friday, May 13, 2016 1:10 PM, Richard G. Rea <richardrea3@comcast.net> wrote: Currently running BIVIO with 2 active members and one investment strategy i.e. Peer to Peer (P2P) Lending with Prosper Inc. Now want to add an additional investment strategy of equity trading with TDAmeritrade and 4 additional active members for a total of 6. The 4 new members don't want to participate in the existing P2P strategy but all 6 members will participate in the new equity strategy. Q. Is there anyway our existing Bivio account can handle this complicated situation? Is the best solution to open another Bivio account and keep the two strategies and member lists totally separate? HAREBL LLC Member since 2003 . The Lend Academy Blog http://www.lendacademy.com/ is excellent and you can find most everything you want to know there about P2P Lending. Theie Forum is great too with lots of professional consumer lending people there milking their Prosper accounts for double digit returns. I am sure there is a "tax string" somewhere on their Forum. Here is their recent post on 2016 Federal Taxes for LC and Prosper. http://www.lendacademy.com/lending-club-and-prosper-tax-information-for-2016/ Since we are running an LLC we file a IRS Form 1065 and generate k-1s for the two participating members. We get three statements from Prosper: 1) Interest, 2) Short term gains/losses and 3) Long term gains/loses. We don't trade our notes but hold them to maturity. |
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