The tax issue can be worked around to some extent by using an IRA. Lending Club will also open trust accounts so it should be possible to open one in the name of a solo 401(k) (only an option if you're self-employed). I'm going to try this in a bit.
I opened my LendingClub account in a roth IRA for the same reason. Its not a very tax efficient investment, and I don't want to deal with it at tax time.
Be forewarned, though, that you can't buy or sell loans on the 3rd party exchange with a tax advantaged account.
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The tax issue can be worked around to some extent by using an IRA. Lending Club will also open trust accounts so it should be possible to open one in the name of a solo 401(k) (only an option if you're self-employed). I'm going to try this in a bit.
I opened my LendingClub account in a roth IRA for the same reason. Its not a very tax efficient investment, and I don't want to deal with it at tax time.
Be forewarned, though, that you can't buy or sell loans on the 3rd party exchange with a tax advantaged account.