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srmycall
New Member

Is mined cryptocurrency correctly reported as "Not for Profit Activity"?

Mined cryptocurrency reported under Wages & Income > Hobby income and expenses, appears in the 1040 - line 21 as "Not for Profit Activity Income". Is this designation correct?

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DanielV01
Expert Alumni

Is mined cryptocurrency correctly reported as "Not for Profit Activity"?

Generally speaking, cryptocurrency mining falls under self-employment.  Please see this FAQ for more information:  https://ttlc.intuit.com/replies/6467560

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DanielV01
Expert Alumni

Is mined cryptocurrency correctly reported as "Not for Profit Activity"?

Generally speaking, cryptocurrency mining falls under self-employment.  Please see this FAQ for more information:  https://ttlc.intuit.com/replies/6467560

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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