The income report we provide is simply an export of all the Income transactions in your account for a given tax year, with the market value of that crypto income tacked on. The market value is determined by the asset, the asset quantity and the date/time the income transaction occurred.
Generally speaking, any crypto you receive from mining, staking, referrals and exchange rewards, as well as any other crypto you receive in exchange for a service should be categorized as Income.
Below is an example of an income report from 2017.
Once you have that report, you'll want to use spreadsheet software (like Excel) to sum up the market values in column I. The result of that sum should match the "Total Income" field on your My Taxes page. This number represents the total market value of all the crypto you've received as income in a tax year.
Whatever result you get from summing the market values in your income report (or what you see as your total income for a given year) should be added to your taxable income for that year under "Other Income".
Still have questions? Send us an email at support@taxbit.com or chat with us using our live chat feature, and we'd be happy to help!
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