Yes, that is correct. The $8.78 reported as income allows you to use that as your cost basis for the crypto sale. Using it later would be considered a separate transaction.
As indicated taxable income from your 'free' crypto does get used as your cost basis when the crypto is sold. This is the significance for you which reduces gain. If you had a larger transaction it would be very important to include all cost basis for a sale. This reduces gain or increases loss depending on the transactions.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
