When you sell the bitcoin (BTC), you will have a taxable gain of loss that will be the difference between the sale price and amount on your 1099-MISC, so keep your records. Click Federal in the left column Click Wages & Income at the top Scroll down to Less Common Income. Click Show more Start Miscellaneous Income, 1099-A, 1099-C Start Other reportable income Say Yes to Any Other Taxable Income? Enter a description and amount

Question

I won small fractions of bitcoin via cashhapp trivia competition and have been sent a 1099-MISC. I have not bought/sold any crypto at all. Why would I get a 1099-MISC?

Forum|Forum|3 years ago
April 18, 2022
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TurboTax Free Edition Online

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ErnieS0

When you sell the bitcoin (BTC), you will have a taxable gain of loss that will be the difference between the sale price and amount on your 1099-MISC, so keep your records.