Schedule 1 reports additional income (business income, rental income, unemployment, and other income such as staking rewards and airdrops) and adjustments to income, and its totals flow to Form 1040.
Crypto income that is not capital gain and not from a business usually lands on Schedule 1 line 8 as other income: staking and reward income, airdrops, referral bonuses. The reported value becomes the basis of the tokens.
Exchanges report this income on Form 1099-MISC, which the IRS matches against Schedule 1. Staking rewards.
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Definitions are general information, not legal advice, and may not reflect the most recent changes in law.
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