Hi @DawnC, thanks for the reply.
Are you saying I would file it as the sale of 1 BTC for $5,700 and then report $5,700 worth of Bitcoin received from the bankruptcy as income and a new cost-basis begins? And I'm assuming for the date on both of those I'd put when I received the distribution, correct?
One final question, what happens if later we receive a small portion of stock in a NewCo how does that play into the equation? And also, there's a litigation trust where they are trying to clawback and sue bad actors. We may receive a cash distribution from that one day. Does that all change anything?
I do appreciate your time, thanks!
