The estate determined a "claim value" based on your total crypto holdings on the Voyage exchange prior to claiming Chpt. 11. This is from my personal claim info page.
"Your claim amount was calculated based on the U.S. dollar price of the crypto assets in your Voyager account as of July 5, 2022"
Now where it gets murky is that is your total claim value has NOT been received yet. The estate has already distributed roughly %30 percent of your total claim value back in kind but the remaining %70 is held pending future litigation with FTX etc. The initial %30 of your total claim value came back as crypto in kind but some crypto assets that were not supported in the estate liquidation where sold (on my behalf) and redistributed in the form of USDC stable coin the others were also sold (on my behalf) but came back in same form just less coins.
So two things to clarify. The coins that came back in kind there is loss meaning I have significantly less coins of that asset from the redistribution. The usdc stable coin that was retrieved for selling non supported assets by the estate is also a loss on total original value my cost basis. These issues to me seem like I should be able to claim these losses somehow. Where it gets confusing for me is the future distribution of any recoveries from chapt 11 will be in Fiat no more crypto and there is a sizable IF that even happens or they are able to win in court to fund future recoveries.
I guess what I'm not sure is what do I use as my cost basis and can I claim these losses of the 30% I got back even though I didn't sell but the estate liquidated on my behalf. There are sizable losses here for everyone involved and would help greatly to offset any future capital gains. We have gotten back part of our claim the 30% so it should on '23 tax in some form I believe but not familiar with bankruptcy. I believe this is the first case of chapter 11 involving crypto also.
The total claim page gives quite a lot of info:
coin type held | 7/5 liquidation price | quantity | claim amount
Then the June 2023 in-kind distribution claim breaks down what you got back as:
coin type held | recovery price | Distributed in | Initital Recovery | Recovery value | Transferred | Transferred value.
