[{"data":1,"prerenderedAt":7},["ShallowReactive",2],{"faq-standard-9733":3},{"rec_id":4,"title":5,"text":6},"9733","Do I need to enter cryptocurrency rewards or earnings even if I didn't receive a Form 1099-MISC?","Yes, the IRS requires that you report cryptocurrency rewards or earnings even if you don't receive a \u003Ci>Form 1099-MISC\u003C/i> or \u003Ci>Form 1099-NEC\u003C/i>. Companies are not required to send you a \u003Ci>Form 1099-MISC\u003C/i> or \u003Ci>Form 1099-NEC\u003C/i> unless the income is $600 or more.\n\u003Cbr>\u003Cbr>\nRewards, sometimes called airdrops, are usually reported as digital asset income on the \u003Ci>Other Sources of Income\u003C/i> screen using the fair market value at the time you received the cryptocurrency. Where earnings are entered depends on if they're wages or income from self-employment. See \u003Ca href=\"/freefile2025/answers?faq=7732\">Where do I enter Cryptocurrency?\u003C/a> for more information.\n\u003Cbr>\u003Cbr>\nExample: You receive $10 worth of bitcoin as a reward for opening a new wallet. You would enter the $10 on your tax return as digital asset income and it would be taxed as ordinary income.\n\u003Cbr>\u003Cbr>\nExample: You're self-employed as a consultant. One of your clients pays you in cryptocurrency worth $500. You would report the $500 fair market value of the cryptocurrency at the time you received it as self-employment income.\n\u003Cbr>\u003Cbr>\nExample: You're an employee. Your employer gives you a bonus worth $200 in cryptocurrency. You should receive a \u003Ci>Form W-2\u003C/i> from your employer including the bonus.",1777391634670]