Certain types of crypto transactions, such as Airdrops, Payments, Forks, Mining, Staking, Interest, Royalty, or other transactions are considered taxable income.
CoinTraker calculates your taxable income and lists it on the Taxes page and on Form 1040 (Schedule 1).
Steps to enter taxable income into TurboTax
1. Navigate to Federal Taxes > Wages & Income.
2. Select Less common income
3. Select Misc Income, 1099 A, 1099 C.
4. Select Other reportable income
5. Select Yes in the next prompt.
6. Enter "crypto income" as the description and input the amount from your 1040 (Schedule 1) or the Taxable Income displayed on the Taxes page.