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nick6
New Member

How to enter Dash Masternode rewards as a dividend when there will not be any 1099-DIV. This is equivalent to cryptocurrency mining.

I pay a third party service to run my Dash Masternode, and I only receive the crypto tokens as a dividend. I would like to enter these dividends, but TurboTax assumes that there will be a 1099-DIV (there will not be any forms issued of any kind). How do I enter this income?

1 Best answer

Accepted Solutions
AnnetteB
Intuit Alumni

How to enter Dash Masternode rewards as a dividend when there will not be any 1099-DIV. This is equivalent to cryptocurrency mining.

Since no documentation will be issued to report your Dash Masternode tokens income, you can enter it as Other Income reported on line 21 of Schedule 1.

Use the following steps to enter the income using the CD/downloaded TurboTax Home and Business version:

·         Click on the Personal Income tab

·         Select I’ll Choose What I Work On

·         Scroll down to the Less Common Income section

·         Click Start or Update beside Miscellaneous Income, 1099-A, 1099-C

·         Click Start or Update beside Other Reportable Income

·         Enter a description and the amount of the income






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1 Reply
AnnetteB
Intuit Alumni

How to enter Dash Masternode rewards as a dividend when there will not be any 1099-DIV. This is equivalent to cryptocurrency mining.

Since no documentation will be issued to report your Dash Masternode tokens income, you can enter it as Other Income reported on line 21 of Schedule 1.

Use the following steps to enter the income using the CD/downloaded TurboTax Home and Business version:

·         Click on the Personal Income tab

·         Select I’ll Choose What I Work On

·         Scroll down to the Less Common Income section

·         Click Start or Update beside Miscellaneous Income, 1099-A, 1099-C

·         Click Start or Update beside Other Reportable Income

·         Enter a description and the amount of the income






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