Celsius Bankruptcy Losses

Koinly Support
#1

I had crypto in the Celsius Earn program and only recovered about 25% of it in the bankruptcy process. They refunded BTC and ETH to my PayPal account but other cryptos (such as MATIC) weren’t directly recovered at all – they were first converted to BTC or ETH and included in the calculations that resulted in my partial recovery of BTC and ETH.

How should I handle this in Koinly? E.g.:

  1. Do I need to create manual sells and buys to reflect the changes?
  2. How do I include the transactions where various cryptos (e.g., MATIC) were converted to BTC and/or ETH (a taxable event), given that I don’t know the values at the time?

Thanks,
Barry

1 Like
#2

I’d love to know how to handle this properly too!

#3

https://support.koinly.io/hc/en-us/articles/12675017906844-Chapter-11-Reimbursements-Celsius-Voyager-Mt-Gox

#4

HI,

Please refer to the guide here -https://support.koinly.io/hc/en-us/articles/12675017906844-Chapter-11-Reimbursements-Celsius-Voyager-Mt-Gox

If you have further questions, refer to your tax specialist since we cannot provide tailored guidance for this issue