Question

Coinbase Misc Income question

Forum|Forum|3 years ago
March 21, 2023
1 reply
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I did not receive any tax forms for Coinbase for 2022. However, my account lists $1 under "MISC Income". No forms for it or anything. It is listed as "rewards".

Do I need to file this? And if so, where do I file it, under which form etc?

Thanks

D

DianeW777

Yes. Since you have at least $1 of income from CoinBase you must report the income.

Please follow the instructions below to report Other Income:

Click Federal Taxes -> Wages & Income and scroll down to Less Common Income
Go to the last selection, Miscellaneous Income and click Start
Go to the last option, Other reportable income and click Start
When it asks, "Any other reportable income?" > yes and then type in a description and the amount to report it on your tax return.
TurboTax Online and TurboTax CD/Download will use the same procedure
See the image below for your assistance.
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