TokenTax should have imported your Cryptocurrency Mining & Income Tax Report which should duplicate the information found on your 1099-MISC. Any trading activity should be reported separately.
Since it sounds like the income from your 1099-MISC was for interest earnings and not mining, you want to make sure it is entered correctly on your tax return.
- With your return open, go to Federal > Wages & Income
- Open the Less Common Income section and start or revisit the last entry, Miscellaneous Income, 1099-A, 1099-C.
- On the next screen, start/revisit the very last entry, Other Reportable Income, and answer Yes on the following screen.
- On the next screen, enter a description (for example, "Crypto Interest") and then enter the total USD amount.
- You may repeat this for every currency for which you received interest or combine them on a single line.
- Select Continue when finished.
If you already see an item in the Less Common Income section, this may have come from the TokenTax import. Make sure not to enter it in the Self-Employment section if the income is not from mining as this will add self-employment taxes.
