If you have earned more than $10 in interest income from your Groundfloor investments in a calendar year, you will be issued a single, yearly 1099-INT form by January 31st of the following year in accordance with regulations set forth by the Internal Revenue Service.
Principal losses are reported separately on a form 1099-B per property.
Promotional credits (i.e. referral credits, promotions), will be filed via a 1099-MISC once users meet a $600 threshold. All tax documents will be available and accessible via the Groundfloor Tax Center.
The Groundfloor Tax Center is a one-stop shop for:
Viewing important tax information
Viewing your tax documents
Verifying and updating your account information that will be submitted to the IRS
By default, the information submitted to Groundfloor will be submitted to the IRS and included on your tax documents. To access the Tax Center, log in to your Groundfloor Investor Account and click on Account Settings.
For additional information regarding the 1099-INT, 1099-MISC, or 1099-B forms and your personal tax requirements, please consult with a tax expert and/or your accountant.