I have two 1099-MISC from Celsius (one based on London, one based in NJ...not sure why) reporting interest income on my Cryptocurrencies held. When I input the data into Turbotax, it wants to treat this as business income and asks many questions that are irrelevant nonsensical to interest income, but throws errors during the smart check. How to I correctly input this 1099-MISC, which is reported to the IRS, but show it is actually interest income and answer questions that are truthful and make sense?
Are you sure your Form 1099s are reporting interest income? Interest payments are reported on Form 1099-INT. Other types of income are reported on Form 1099-MISC.
Reddit users say your received two 1099s because Celsius moved to the US from the UK.
If the amounts are truly interest income you can delete your 1099-MISCs and enter the amounts instead as interest.
To enter interest income: