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Level 1
posted Mar 1, 2022 2:15:05 PM

How do I report my cryptocurrency rewards as income on the 1099-MISC form?

I have the Turbo Tax Premier.  When asked if I received a 1099-MISC form, I answered "no" and was immediately redirected to the main screen.  I only have about $33 worth of rewards and Coinbase doesn't send out the form for crypto rewards that are less than $600.  So, how do I go about reporting the $33 rewards on the Turbo Tax Premier?  

 

Thanks

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1 Replies
Expert Alumni
Mar 1, 2022 2:27:34 PM

You can report your cryptocurrency rewards as Other Reportable income.

 

In TurboTax, open your return and follow these steps:

  1. Click on Federal in the left-hand column, then on Wages and Income on top of the screen
  2. Scroll down to locate the Less Common Income section
  3. Click Show more and click Start next to Miscellaneous Income at the bottom
  4. On the next page, click Start next to Other Reportable Income.