topic [Crypto Currency] How do we report Coinbase Learning Reward in Investors & landlords

[Crypto Currency] How do we report Coinbase Learning Reward

bohueilin — Mon, 23 Feb 2026 13:03:31 GMT

Dear Community,

I have learning rewards from Coinbase that i have not sold nor exchanged at all, they are still in my Coinbase Account and i do see them under the MISC income section.

Since i have not sold these Learning Rewards yet, does that mean i do NOT need to report them at all?

Thanks

Re: [Crypto Currency] How do we report Coinbase Learning Reward

MinhT1 — Wed, 08 Feb 2023 13:59:22 GMT

Coinbase rewards are taxable income according to this Coinbase document.

You should report this income as Other Reportable Income.

In TurboTax, open your return and follow these steps:

Click on Federal in the left-hand column, then on Wages and Income
Continue and locate the Less Common Income section
Click Show more and click Start next to Miscellaneous Income at the bottom
On the next page, click Start next to Other Reportable Income.

Re: [Crypto Currency] How do we report Coinbase Learning Reward

bohueilin — Wed, 08 Feb 2023 16:54:24 GMT

Thank you so much @MinhT1

Questions,

1.) if we use Turbotax Import, will those be automatically included? Or it is still required to enter manually ?

2.) What about stacking rewards (say ETH interest, etc)

Thanks

Re: [Crypto Currency] How do we report Coinbase Learning Reward

MinhT1 — Wed, 08 Feb 2023 17:42:09 GMT

For rewards, you cannot import them. You have to enter them manually as I showed you.

Staking rewards are also taxable, and you enter them as previously shown.

Re: [Crypto Currency] How do we report Coinbase Learning Reward

bohueilin — Sat, 11 Feb 2023 06:47:36 GMT

Thank you so much

Re: [Crypto Currency] How do we report Coinbase Learning Reward

gemumalu — Tue, 21 Feb 2023 02:43:17 GMT

In my opinion, I don't think you have to declare this type of earnings as "income", since they are not income as such, unless it is worth a lot of money, I do not see the need, but in the comments they told you yes and even how to do it So it's up to you which option to take.

Re: [Crypto Currency] How do we report Coinbase Learning Reward

bohueilin — Wed, 22 Feb 2023 01:02:53 GMT

thanks, yea i just want to do the things right 🙂

Re: [Crypto Currency] How do we report Coinbase Learning Reward

DaveF1006 — Wed, 22 Feb 2023 03:40:35 GMT

Yes, this is taxable income as explained by MinhT1 above and it is not choice to make on whether or not to report it.

@bohuellin

Re: [Crypto Currency] How do we report Coinbase Learning Reward

bohueilin — Sat, 25 Feb 2023 16:35:17 GMT

@DaveF1006 Thanks, yea for sure reporting, doing the things right 😜

Re: [Crypto Currency] How do we report Coinbase Learning Reward

JamesG1 — Sun, 26 Feb 2023 13:41:55 GMT

@MinhT1 is correct. The IRS has ruled that rewards become taxable once the taxpayer "acquires the ability to transfer, sell, exchange, or otherwise dispose of the cryptocurrency."

You will need to convert your staking rewards to US dollars if they haven't been issued as U.S. dollars.

Here is how to enter your staking rewards in TurboTax as other income:

Down the left side of the screen, click Federal.
Down the left side of the screen, click Wages & Income.
Click Show more to the right of Less Common Income.
To the right of Miscellaneous Income, 1099-A, 1099-C, click the Start / Revisit button.
To the right of Other reportable income, click the Start / Revisit button.
At the screen Other Taxable Income, enter a description such as “Cryptocurrency rewards” and an amount.

The entries will be reported:

on line 8z of Schedule 1 of the Federal 1040 tax return, and
on line 8 of the Federal 1040 tax return.

@bohueilin

Re: [Crypto Currency] How do we report Coinbase Learning Reward

lotusmonza — Sat, 18 Mar 2023 03:50:27 GMT

I keep getting an error with the principal business code for my misc coinbase income of $1.15. Do I enter "Coinbase earnings" in A (principal business) and of so what is the principal business code?

Re: [Crypto Currency] How do we report Coinbase Learning Reward

ErnieS0 — Sat, 18 Mar 2023 14:45:04 GMT

Delete your entries and report your Coinbase earnings as Other Income.

Click Federal in the left column
Click Wages & Income
Scroll down to Less Common Income. Tap Show more
Select Miscellaneous Income, 1099-A, 1099-C
Select Other reportable income
Say Yes to Any Other Taxable Income?
Enter a description (Coinbase earnings) and amount ($1)

@lotusmonza

Re: [Crypto Currency] How do we report Coinbase Learning Reward

lotusmonza — Sun, 19 Mar 2023 04:45:17 GMT

Thanks!

Re: [Crypto Currency] How do we report Coinbase Learning Reward

iceknight — Wed, 01 Nov 2023 05:35:40 GMT

This is a useful suggestion. Thank you. I was looking for an answer for a hypothetical scenario like this myself.

** Not tax advice, just sharing my thoughts on my own experience **

I also was thinking a bit more about it and realized that while I don't trade Crypto, I do other activities where I try to earn some income. This includes writing about stocks, investments and earning affiliate income. I spend money on specific expenses such as virtual office, phone plan (partial costs), domain and hosting costs, turbotax subscription, etc. I am thinking of documenting these and other expenses accurately and then filing a Schedule C (or other relevant forms as required) to record and claim my expenses, asset depreciation, etc. This way, even if there are these unspent rewards of 20/30 $ that are well under the $600 reporting threshold I can at least minimize the impact and also continue to do things right. This may work for me, others may have to customize the details as per your own case. Cheers

Re: [Crypto Currency] How do we report Coinbase Learning Reward

slowkaveman — Mon, 15 Apr 2024 11:17:20 GMT

I followed your directions but the income showed up on 1040 line 1h.

It still seems to be lumped into the AGI, I think I'm good? Can someone confirm?

Re: [Crypto Currency] How do we report Coinbase Learning Reward

JamesG1 — Mon, 15 Apr 2024 16:03:49 GMT

Line 1h is other earned income (earned income equals wages) rather than other income line 8. It is taxable income, it is part of adjusted gross income and reported by April 15. All is good.