BlockFi Bankruptcy

[Jobryan]

BlockFi has completed its bankruptcy. How do I claim my losses for the assets they did not return to me.

[MaryK4]

You will enter as an Investment sale.  Your proceeds will be zero and your basis will be your investment amounts.  Your allowable capital loss deduction is the lesser of $3,000 ($1,500 if you are married and file a separate return), or your total net loss.  Any losses that are not used can be caried over and used in future tax years.  

[Gabriela2]

Is there a file we should create to upload, considering BliockFi is not providing any and i just rely on my own tracking? Also, if amount held was a total of several transactions, is ok to consolidate as one total and selecting various dates as date purchased?

thank you

[ThomasM125]

I'm not sure what you are referring to with respect to a file upload. You can combine several transactions into one, but you may need to choose an acquisition date that will result in a holding period of more than one year to get the correct long-term capital gain treatment.