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Level 3
posted Sep 19, 2022 10:00:48 AM

I didn't receive a 1099-misc from a Crypto Lending platform because the amount was small. Where do I report this?

I reported this in "Miscellaneous Income" > "Other reportable income" at the very bottom instead of "Other income not already reported on a Form W-2 or Form 1099" since this wasn't really earned income from labor. Is this the correct way to do it?

 

0 4 774
4 Replies
Level 15
Sep 19, 2022 10:06:31 AM

Sales are reported on the form 8949 & Sch D even if no 1099-B is issued ... do NOT enter it in the 1099-MISC area.

 

 

Level 3
Sep 19, 2022 10:11:05 AM

These aren't sales. I "earned" these from lending my crypto in a lending platform such as Celsius, Blockfi, etc. 

Level 15
Sep 19, 2022 12:07:00 PM

Multiple posts :  https://ttlc.intuit.com/community/user/viewprofilepage/user-id/2432787

 

If you earned them because you worked for them then they go on a Sch C even if you don't get a reporting form for the income.

 

If some of the crypto was liquidated or sold it goes on the Sch D.

 

If these were misc income they go on sch 1 line 8. 

Level 3
Sep 19, 2022 7:51:17 PM

What do you mean by multiple posts?