Yes, it will be reported as Prizes and Winnings on Line 8h of Schedule 1. There is a separate line for gambling winnings, Line 8b of Schedule 1. The prizes and winnings line is the best fit for cryptocurrency rewards. If you want to preview your Schedule 1 to make sure it looks as it should:
- Open or continue your return.
- Select Tax Tools in the left menu (if you don't see this, select the menu icon in the upper-left corner).
- With the Tax Tools menu open, you can then view your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu
- Scroll down until you see Schedule 1. Line 8h should have your staking rewards.
@widestrides
