Won a small amount of Bitcoin

[1967Chats]

Hi,

In December I won $11 in Bitcoin.  Sold it for $8.50.  Do I report this?  From what I'm reading on the internet any amount sold has to be reported.  I know this is a small amount but I had to provide my personal information when I won the Bitcoin for IRS purposes.  I did not receive any forms regarding the Bitcoin - so do I enter this myself?  It looks like I will have to upgrade to TT Premiere to do this ($60 more...WOW not happy about that)..any help would be appreciated.  Thanks.

[npierson7]

Technically, there is no minimum reportable income: any interest you earn must be reported on your income tax return. However, consider all facts given, you might treat that like a gift, and you don't have to report it in your tax income.