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Messages - John.Parker

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Investors - P / Re: 1099-B Question
« on: February 18, 2015, 06:47:15 AM »
 :)  Thanks, that helps clear things up!

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Investors - P / 1099-B Question
« on: February 16, 2015, 04:23:24 PM »
I received both short and long term 1099-Bs this year and I am confused: the block 1e (basis) shows an amount equal to my loans that have a charge-offs, and block 1d (proceeds) shows the recovery amount from a different loan. Why do the charge-off amounts show up as basis?

I am also supposed to add dates for each sale (using H&R Block) so does that mean I need to have a 1099-B entry for each of the loans?

Thanks for any assistance

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Investors - P / Re: Loan Descriptions Missing
« on: September 13, 2013, 02:05:37 PM »
My view when I first started with Prosper was that these loans would be peer-to-peer; I do not see how that is really the case if we know nothing of the individual and the purpose of the loan request. It's more like peer-to-computer screen.  It is an unfortunate step (leap) away from true P2P investing in my opinion by taking away knowledge, however limited, of the individual.

I will continue to divest from Prosper and return my funds to my bank rather the reinvesting in other notes. I'll miss reading through the notes looking for the golden gem.  I really liked finding the notes for the service/military personnel; being a vet myself I liked the thought of assisting other vets, but I see no way of finding those anymore with these changes.

Best wishes to all.

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Investors - P / Re: Loan Descriptions Missing
« on: September 12, 2013, 09:41:51 PM »
I too was surprised by this and contacted Prosper directly, to have them confirm this. This is the end of my Prosper investing. I looked at the loan description field as an important connection between the person requesting the loan and the investor.  I passed up many loans simply because they had no listed reason or purpose for the loan.  I also passed up many others because the requester could not write well enough to get their reasons across, so to me they were a poor risk.  I will let my current notes run their life, but I will no longer invest in new notes with Prosper.

I have to say I am very let down by this action by Prosper.  I truly enjoyed supporting people with my funds (though limited compared to many) and really liked to scrub the requests to pick out the best, but without the loan description field available to "connect" with the applicant, I'm done.

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