Filing taxes for Prosper and Lending Club. 1099-B confusion!

[Miss Growing Green]

I tried searching historical posts, but nothing turned up, which was a little surprising.  I guess I'm the only one who can't figure this out!

I'm working on my taxes (getting close to the wire here!)  and for Prosper I have a 1099-OID, 1009-B "short term", and 1099-B "long term".  I have similar docs for Lending Club.

I have done the 1099-OIDs in the past, so I think I'm good there.  I'm using H&R Block online Premium software (fyi).

I don't know why these P2P lending taxes are so confusing to me!  Is my understanding correct here:

On one 1099-B under 1d- Proceeds it says $1.14.  Under 1e- Cost or other basis it says $808.80.  Does that mean of my notes charged-off in 2014, $1.14 was recouped from collections and $808.80 was "charged-off"?

I need to make sure I file these 1099-Bs correctly, but I also need to make sure I am writing off the charge-offs to offset my income from p2p lending.

I also need to:
"describe the transaction" on H&R Block.  The example they give is "85 shares of HRB". 
Select the transaction type (Ordinary transaction, nonbusiness bad debts, other nondeductible loss, or other adjustment)
Amount for "Sale expense or option premium adjustment"

Thanks for the insight wise Mustachians!

[Wile E. Coyote]

I don't have any experience with Lending Club or Prosper, but found this, which seems to have given this a bit of thought. 

http://www.lendacademy.com/lending-club-prosper-tax-information-2014/

Hope it helps.

[Roots&Wings]

The Lending Club 2014 tax guide is available for download here, and has some helpful pictorials: http://kb.lendingclub.com/investor/articles/Investor/2014-Downloadable-Tax-Form-Guide/?l=en_US&c=Investor%3ATaxes&fs=Search&pn=1

Charge offs go on Form 8949 as "Lending Club Notes". Proceeds go in box 1d, cost basis goes in box 1e, and your resulting capital gain or loss goes in box 1h, which sounds like -807.66.

Hope you're OID amount was significantly more than the charge offs, and that you've achieved decent overall returns :)

After a 4-year experiment, I'm withdrawing my p2p loan repayments with plans to close eventually given the losses and fairly poor returns on supposedly highly qualified A and B-rated borrowers (my Lending Club returns have been ~5.5%). Hope others have had better experiences!