Question

Do we need to file Form 4684 to report Celsius exchange bankruptcy loss?

Forum|Forum|1 year ago
March 25, 2025
1 reply
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I had funds on the account and only recovered part of them

Yes, for reporting of the Celsius Exchange Bankruptcy, the losses should be determined based on the cost basis and current value of any refunds. You should use Form 4684 for casualty and theft losses and Schedule D/Form 8949 for any capital losses to report these losses.

If you received a settlement (regardless how small) from the bankruptcy proceedings in exchange for your digital assets, this is considered a sale and you (or let TurboTax do it for you) should calculate your capital loss (or gain) on Form 8949 and report it on Schedule D (Form 1040) for the year you received any settlement.

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A

alejandrocastro8Author

thank you for the information

Where can I find the form 4684?

So I need to fill out 4 seperate forms?

-Form4684

-Form8949

-ScheduleD

-Form1040

Can I upload all of these on my turbotax return?

R

RobertB4444

If you fill out the 4684 and the 8949 TurboTax will carry the relevant numbers to where you need them to be.

Go to the search box in the upper right of your TurboTax screen and type 'form 4684' there. Then click the 'jump to' link that appears and it will take you to the disaster loss form.

@alejandrocastro8

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