I've seen different thoughts on how to report the impacts to the assets lent to Celsius who went bankrupt. They returned a portion of some deposited assets but others were a total loss.
1. Can I claim a total capital loss for the cost basis for the tokens that were not returned?
2. How is the best way (don't want to do anything risky) to account for the difference in the amount of Bitcoin and Ethereum I placed with Celsisus, of which I received back about 19% of what I gave them.
3. And I received some Ionic stock as part of the settlement, but I figure it would be best to treat that as a zero cost asset if it ever actually gains any value and I could liquidate it. Would that work?
Since I received my distributions in this year, I figure my 2024 return will be impacted.
Your thoughts please.
