Yes, once you receive the new bitcoin amount, that is taxable income that needs to be reported and a new cost basis would be established. If the loss was recorded on the same date you received the distribution, then that is the date you would use for the disposal of the bitcoin and date acquired for the bitcoin received, which will now be your new cost basis.
As far as the stock received, if this isn't a crypto transaction, this would not be reported and has no effect in your crypto reporting. In the event you do receive a cash distribution, you would report this in the year you receive it. In all likelihood, this will will reported on a 1099 DIV. Neither will be a factor in your crypto transaction.
Let me know if this helps.
@Jmh0523
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