Question about crytocurrency interest, specifically Blockfi

[Rickd83]

If I bought cryptocurrency in 2020, and I have not purchased, sold, received, or traded cryptocurrency in 2022, but I received statements showing interest, do I need to report this? Specifically, the brokerage is Blockfi who has filed bankruptcy, and I have not received a 1099-MISC or any other tax documents for 2022. I am just not sure what I need to report. Thanks!

[Vanessa A]

Yes, you would still need to report the interest income from your cryptocurrency.  Interest that is immediately reinvested is still treated as cash received.   

You can take the following steps to report the Interest Income without a 1099.  

• Wages and Income
• Show More next to Interest and Dividends
• Start next to Interest on 1099-INT
• Enter the interest description and amount