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If i receive a payment via cryptocurrency for good or services, how can i account to it in my taxes?

 
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DawnC
Employee Tax Expert

If i receive a payment via cryptocurrency for good or services, how can i account to it in my taxes?

It is considered self-employment income.   To report it as self-employment income, see the link below.   

 

If you earned income, either in cryptocurrency or any other form of payment, by working for a company where you aren’t an employee, then you are likely self-employed. You can use Schedule C, Profit and Loss From Business, to report your income and expenses and determine your net profit or loss from the activity. 

 

How do I report Self-Employment Income?   Convert the crypto to USD dollars and report it as cash, check, or other self-employed income.  

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