Heron Finance provides the following consolidated tax reporting to make filing as simple as possible:
Form 1099-INT: Income paid to you through Heron during the year is generally reported as interest income on Form 1099-INT.
Form 1099-B: Redemptions of your Heron investment are generally reported on Form 1099-B, which reflects gross proceeds and cost basis (when applicable). Any resulting gain or loss is treated as a capital gain or loss and may be classified as long-term or short-term depending on your holding period. You should consult your tax advisor regarding your specific tax treatment.
We generally issue these forms by January 31 each year. This is typically much simpler and faster than investing directly in underlying private funds, many of which issue Schedule K-1s later in the year. Receiving K-1s can often delay tax filing or require filing an extension. Heron is structured so that we can provide standardized 1099 reporting instead.
Heron Finance does not provide legal, accounting, investment or tax advice. You should consult your own legal, accounting, investment and tax experts before using the services offered on Heron Finance.