Many investors want to know their options for claiming tax write-offs for funds locked on bankrupt platforms like Voyager, FTX, BlockFi, and Celsius.
Tax write-offs can save you thousands, but handling them incorrectly may increase your chances of an IRS audit or lead to undesired results. Understanding how and when to apply these write-offs is essential to avoid issues.
Stay informed as court cases progress, as new developments may affect your deduction options, timing, and amounts.
For more details, check out our blog post by a tax expert.
Information about specific exchanges
Celsius
Celsius recently distributed crypto assets after emerging from bankruptcy. For details, see our blog post on reporting Celsius bankruptcy payments.
To upload your Celsius transaction history, refer to this guide.
For personalized advice on accounting for the distribution, consult a tax professional.