Get your taxes done using TurboTax

I am not a CPA. You probably shouldn't listen to my advice, but I did link to the IRS page for you to read for yourself.

 

My understanding is if you mark that "as intent to earn money," you are telling Turbotax that this is a business [0], and thus you would owe self-employment income taxes. My understanding since trading crypto is an equity, you shouldn't pay self-employment tax against the income.

 

https://www.irs.gov/businesses/small-businesses-self-employed/business-activitieshttps://www.irs.gov...