How do I mark a transaction as “earned interest” ? I don’t see such an option in the available “Mark as …” options.
We’re working on adding a mark as
interest option. In the meantime, if you want to see something show up as income, you can put mark as
staking reward for now (will still show as income on the tax page).
Hello, is this something that will be finished for this year’s tax returns or? I see that Crypto.com transactions have the “Interest” tag but I can not select it for Nexo transactions. Should I mark the Nexo transactions as staking reward as you mentioned above or?
Yes you can mark as staking as a stopgap solution. We’ll let you know as soon as the interest tag is available.
When I mark transactions with the staking reward I do not see them show up in the newly available
“TurboTax Online File” csv at all. Why is that? All of my interest/transactions should show up in that file right? I am worried it might not be reporting everything.
I also have Nexo interest income and expenses which I’d like to properly identify. Can you let me know when an update to handle this will be implemented?
Staking rewards / income are not included in your IRS Form 8949 (that’s for capital gains). The staking rewards show up on Schedule 1. Since TurboTax doesn’t account for staking right now, you should add the crypto income yourself manually in TurboTax under “Other income”
@Chandan I don’t see an option to mark as interest OR as staking reward. Here’s what I see. What should I do?