Blockfi Bankruptcy Losses

[hispalette]

When do I, how do I record my losses from Blockfi's bankruptcy? They say they will pay out creditors in 2024. So, I won't know the full extent of my losses until then. 

[Sean Enrolled Agent]

Hello hispalette,

I'm sorry to hear about your Blockfi losses.

Unfortunately, you will have to wait until all lawsuits are settled and creditors have been paid out. That way you will knw the full extent of your losses. 

Once everything is settled,  you might be able to claim a capital loss. However, nothing can be done until the full extend of what the actual capital loss is.

Thanks,
Sean