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Home | The Lending Club IRA: What You Need to Know |
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The Lending Club IRA: What You Need to Know
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- May 17, 2011
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Most investors that put money into Lending Club do so through standard, taxable accounts. Unfortunately, income from peer-to-peer loans receives less than favorable tax treatment. All interest earned on peer-to-peer loans is taxed as ordinary income, which could cut anywhere between 25% and 35% off of your profits. Ouch! In order to avoid paying taxes [...]This article (The Lending Club IRA: What You Need to Know) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.
- Read more at:http://www.americanbankingnews.com/2011/05/17/the-lending-club-ira-what-you-need-to-know/
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