sorry repplying to an old post. I was researching for something else and stubled to this post. I've already filed my 2023/2024 tax returns already without claiming the loss (I was previously told by my tax accountant when she was filing for 2023 that the loss is NOT realizable but I just need to maintain the cost basis when I sell the assets) but I believe I received small amount of crypto in 2025 as well so I am wondering if this method is still appropriate or I need to refiile my 2023/2024 returns to realize these losses and put a new cost basis for the assets I received back.
Q1: I have not sold any of the assets received back, so can I just assign cost basis to them (obviously not beneficial from tax purposes not realizing loss right away) until the day I sell them?
Q2: I had three assets on Celsius, BTC / ETH / USDC. But the distribution was in form of BTC and ETH only, and when I asked how to assign the cost basis, I was told I can assign BTC and USDC's cost basis to BTC and ETH's cost basis to ETH, but as long as I follow some logical rule anything is ok. Assuming answer to Q1 is ok, can I follow this guidance on how to breakout cost basis?
Q3: We all "earned" interest while the crypto was held at Celsius, and would have paid taxes via 1099-int on those interest (which at the end of the day we really never received), which should be included in the cost basis, but I have no way to split out between the BTC and ETH "interest" I received. How should I treate those?
Thank you!
