I’m receiving staking rewards with my crypto currency. The value is under $600 so I did not receive a 1099. How is this reported? This is not treated as a busing or mining, rewards are from an exchange. I’m reading that it should be filed in “Other Income" on Line 8 of Schedule 1”. Is this the correct method? (not required to report it specifically as crypto?)
Staking rewards are taxable income according to this Coinbase document.
You should report this income as Other Reportable Income.
In TurboTax, open your return and follow these steps:
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