I know I'll probably get some kickback for this one, but I voted that it isn't important and I'll explain. Until I can download/print tax forms at the end of the year and simply ship them off to my accountant to be dealt with - it doesn't make sense. At this time, I don't want to track all of this in a spreadsheet. I already have to do plenty of work for my rental and this would further my headaches. I'm happy with the returns I get with my current strategy.
I'm with you on the pain. Last year I liquidated some of my taxable Lending Club account in order to put a down payment on my home. I was not happy filling out that 1099-B.
Nathan
I liquidated about $7,000 of taxable notes last year for a business investment. I was able to take my form from Folio and put that into Excel. I then did a convert from CSV to TXF (
http://www.easytxf.com/) and imported that into the software version of TurboTax. Ended up making the process incredibly easy!
To me, automatically selling at risk notes has not yet been important. There's too many times I look at a late note and have a pretty good feeling they will go back to current. Most of the time they do. If the note looks like it won't, I'll list it for sale myself.
However, I do love Interest Radar's way of selling notes. I currently keep 100% of my current/issued notes for sale. Most are listed at an 8% markup and I sell a few a month. Ones with a credit score that has gone down are listed lower. Then I have notes that are duplicates between my 3 accounts listed even cheaper. However, they will all make me a profit if they sell, even after the 1% fee.