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Get your taxes done using TurboTax
You should answer Yes to the Cryptocurrency question. In this case, you did receive currency. This may have been an Airdrop or earned by Staking. In either case, it is reportable income.
You can post this transaction in TurboTax.
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
This will become the basis of the currency for future transactions.
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March 28, 2022
5:08 AM