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Level 1
November 16, 2022
Question

Lost crypto through Celsius Failure

  • November 16, 2022
  • 2 replies
  • 7 views

I had funds in a Crypto company named Celsius that is in the process of bankruptcy. Is there a way for me to write off these loses?

    2 replies

    fanfare
    Level 15
    November 16, 2022

    You can't deduct losses until the bankruptcy moves through the court and is finalized.

    You need evidence that it is impossible to recover anything.

    @featherstone40 

    Alumni - Champ
    November 16, 2022

    You will have a capital loss. The  amount will be the cost of your investment.  See this for more info

    https://ttlc.intuit.com/turbotax-support/en-us/help-article/assets/capital-gain-loss-calculated/L7M6V5oD6_US_en_US?uid=lak5pwco