Yes, these amounts are taxable and have to be reported as Other reportable income. In TurboTax, open your return and follow these steps: Click on Federal in the left-hand column, then on Wages and Income on top of the screen Scroll down to All Income, locate the Less Common Income section Click Show more and click Start next to Miscellaneous Income at the bottom On the next page, click Start next to Other Reportable Income.

Question

Crypto question on free crypto provided by Coinbase. Do I need to report Coinbase Earn and Coinbase Rewards Income if total amount is less than $50?

Forum|Forum|6 years ago
March 12, 2020
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MinhT1

Yes, these amounts are taxable and have to be reported as Other reportable income.

In TurboTax, open your return and follow these steps:

Click on Federal in the left-hand column, then on Wages and Income on top of the screen
Scroll down to All Income, locate the Less Common Income section
Click Show more and click Start next to Miscellaneous Income at the bottom
On the next page, click Start next to Other Reportable Income.