Question

How do I report my crypto taxes? I only have the $5 from coinbase when I signed up for an account, no realized gains. How do I report this income without 1099-B?

Forum|Forum|4 years ago
February 8, 2022
1 reply
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I have a gain/loss report from coinbase but there are no transactions on them because I didn't trade any last year. I only recieved the $5 as a gift from coinbase for signing up. It says that I need to report this miscellaneous income but when I attached the gain/loss CSV into TurboTax, it tells me there are no transaction in it. How am I suppose to report these $5 without a form?

TurboTax Premier Online

Simply enter the $5 as Miscellaneous income.

You won't have capital gain or loss until you sell.

Keep the report with your tax file.

Go to the Wages & Income section

Scroll down to the VERY LAST option "Less Common Income" and click Show more

On this new drop-down list scroll down to the VERY LAST option "Miscellaneous Income" and click START

Now scroll down to the VERY LAST option "Other reportable income" and click Start

Select YES on the "Any Other Taxable Income?" screen

Type "Bitcoin Rebate" and the amount. (5)

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