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Form 1099-MISC (from coinbase), has Other Income added. Review Message "Required: double-click to select the form on which to report this income". Click does not work

Note: This is for Box 3 "Other Income" and not Self employed.
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1 Reply
RaifH
Expert Alumni

Form 1099-MISC (from coinbase), has Other Income added. Review Message "Required: double-click to select the form on which to report this income". Click does not work

If this form is for crypto rewards payments from Coinbase for something like "Watch this video to learn about this crypto and receive $3 in that currency" or for interest, you can report it this way in TurboTax:

  1. Open or continue your return
  2. Select the magnifying glass and search for 1099-misc. Select the Jump-to link
  3. Answer Yes to Did you get a 1099-MISC?
    • If you already entered a 1099-MISC, you'll be on the 1099-MISC Summary screen, in which case you'll edit the 1099-MISC
  4. Enter the info from your form into the corresponding boxes
  5. Enter Crypto rewards (or interest) under Describe the reason for this 1099-MISC
  6. Select None of these apply under Does one of these uncommon situations apply?
  7. Answer No, it didn't involve work like my main job. to Did this involve work like your job?
  8. Choose the year you got the bonus, 2021.
  9. Select No, it didn't involve an intent to earn money.

 

This will enter Form 1099-MISC as other miscellaneous income and it will not be subject to self-employment taxes. This is assuming the income was from interest or crypto rewards or sign-up bonuses or something similar. Mining income would be self-employment, but probably would not be reported on 1099-MISC.

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