If you were paid in cryptocurrency, you'll pay taxes on the earned income.Select Federal from the left menu, Wages & Income Less Common Income Miscellaneous Income, Other income not already reported on a Form W-2 or Form1099The value per unit that you received will be the basis for a future sale. When you later sell, exchange or spend it, you'd pay the capital gains tax (short or long-term, depending on how long you held it.

Question

Where do I enter cryptocurrency I received as payment but have not sold or exchanged?

Forum|Forum|4 years ago
March 27, 2022
1 reply
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TurboTax Deluxe Online

JohnB5677

If you were paid in cryptocurrency, you'll pay taxes on the earned income.
Select Federal from the left menu,

Wages & Income
Less Common Income
Miscellaneous Income,
Other income not already reported on a Form W-2 or Form
1099

The value per unit that you received will be the basis for a future sale. When you later sell, exchange or spend it, you'd pay the capital gains tax (short or long-term, depending on how long you held it.

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