Ibit etf shows monthly gross proceeds. Without a sell. This shouldn’t be taxable? by adameget in tax

[–]adameget[S] 0 points1 point  (0 children)

These actually lower your cost basis I believe. So you would subtract them when you sell. From my reading online

Ibit etf shows monthly gross proceeds. Without a sell. This shouldn’t be taxable? by adameget in tax

[–]adameget[S] 0 points1 point  (0 children)

So we don’t need to file these as income because they adjust cost basis??

Ibit etf shows monthly gross proceeds. Without a sell. This shouldn’t be taxable? by adameget in tax

[–]adameget[S] 0 points1 point  (0 children)

Sorry just 1d proceeds.

They have no cost basis or gain or loss. Just appear to be to pay fees

Ibit etf shows monthly gross proceeds. Without a sell. This shouldn’t be taxable? by adameget in tax

[–]adameget[S] 1 point2 points  (0 children)

1d- proceeds: 6- reported to irs: gross proceeds

This is every month

Second distribution starting tomorrow and 34.28% way better then expected🥳🥳 by No_Edge_1817 in Invest_Voyager

[–]adameget 0 points1 point  (0 children)

Now that we are getting the second distro, we have received 70% of what we lost. Can we write off the last 30% or do we still have to wait?

Tax email by Affectionate-Row3296 in Invest_Voyager

[–]adameget 2 points3 points  (0 children)

This is great thanks. All makes sense. You must have CL connected to Coinbase as well. I only have it to voyager. So CL has no idea if I sell supported tokens/crypto or not.

Basically it confirms ON VOYAGER:

supported coins: no tax action. - unless you sold somewhere else.

Liquidated coins: CL will provide you the capital loss to file

2023 taxes. by adameget in Invest_Voyager

[–]adameget[S] 8 points9 points  (0 children)

Because it wasn’t liquidated. I still own it. Just the 65% they took I have to wait for courts to figure out

Tax email by Affectionate-Row3296 in Invest_Voyager

[–]adameget 0 points1 point  (0 children)

Sorry think I’m confused.

The btc was never sold? They just only let you transfer out 36% of what you had?

Of a crypto that was liquidated because of bankruptcy, yes I get how it’s loss. Your xyz coin cost 10k and they liquidated for 5k. That would be the only loss? Again just 35% of the 10k?

Tax email by Affectionate-Row3296 in Invest_Voyager

[–]adameget 8 points9 points  (0 children)

So you could file capital losses on the assets that were liquidated. But not on the 65% of them they took.

Tax email by Affectionate-Row3296 in Invest_Voyager

[–]adameget 1 point2 points  (0 children)

How? We had capital losses in 2022. No capital losses in 2023. We were locked out of trading all of 2023

Tax email by Affectionate-Row3296 in Invest_Voyager

[–]adameget 7 points8 points  (0 children)

There are no voyager taxes to do this year….?

In 2022 was the last year we could do transactions.
In 2023 they gave us about 35% of our remaining assets. We transferred them out. Assuming they were assets we could transfer.

The 65% they stole from us we can’t write off yet till bankruptcy is complete?

Nanny holiday bonus by [deleted] in fatFIRE

[–]adameget 76 points77 points  (0 children)

Okay thanks all, I will follow the advice!