Can I take deductions on the income reported to me by Upstart on the Form 1099-INT?

While Upstart investors do incur fees or expenses for the services and platform provided by Upstart, these are incurred by each individual investor, not by any of the investments themselves. As a result, the investor statements and the Forms 1099-INT provided to you do not contain any information regarding expenses incurred or other items that could be deducted from the gross interest income paid to investors. Form 1099-INT Box 5, Investment Expenses, is left blank. You should consult your personal tax advisor on all questions related to your particular tax situation.

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