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Get your taxes done using TurboTax
You are incorrect about the first question. You did acquire Income from staking, which is a taxable event. You should answer Yes.
You are correct. You did not do this with the intent to earn money. The question is confusing, but the way the IRS looks at this is: Do you have to have a schedule C and could you make deductions against it?
Staking will generate passive income.
With your return open, go to
1. Federal
2. Wages & Income
3. Less Common Income
4. next to Miscellaneous Income, 1099-A, 1099-C
5. Select Other Reportable Income
6. Answer Yes on Any Other Taxable Income?
7. Continue through the interview
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March 27, 2022
8:10 AM
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