Get your taxes done using TurboTax

The IRS ruled that staking rewards only become taxable once the taxpayer "acquires the ability to transfer, sell, exchange, or otherwise dispose of the cryptocurrency." 

You'll need to convert your staking rewards to US dollars if they haven't been issued is U.S. dollars. Here's how to enter your staking rewards in TurboTax:

1. With your return open, select Federal from the left side navigation.
2. On the top tabs, select Wages & Income
3. Scroll down to Less Common Income section and select Start or Revisit next to Miscellaneous Income, 1099-A, 1099-C
4. On the next screen, select Start or Revisit next to Other Reportable Income
5. Answer Yes on the Any Other Taxable Income? screen
6. On the next screen, enter a description and enter the total US dollar amount
7. Continue with the onscreen interview until complete.