Hello and excellent question. You definitley keyed in to the main points. Hobby versus business. If it meets the business qualifications the Schedule C will be the correct way to report. If it meets the hobby criteria then report as other income.. The related expenses will not be deductible. I am going to include a link below that we have on our TurboTax support site that was updated as recently as June 14, 2023.
TurboTax "Your Crypto Tax Guide"
