Tax question, since we received our claims in 2024 but

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Celsius Community

Crypto Chick

Tax question, since we received our claims in 2024 but

with a forced swap in 2023, do we have to file taxes in USA for the forced swap that occurred?

0

09.03.2024

5 ответов

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Crypto Chick Автор вопроса

Aaron Lasher
When you saw forced swap, do you mean you were liq...

Thx for asking. I did "set off" a loan I had, but i also had several alt coins which were swapped to BTC & ETH. I am wondering the way ppl are handling the tax filing of the swap?

0

7 месяцев назад

Aaron Lasher

Crypto Chick
Thx for asking. I did "set off" a loan I had, but ...

If you did the set off, it is considered a sale of crypto (in the US), so it’s taxable. Celsius is not issuing 1099s.

0

7 месяцев назад

Crypto Chick Автор вопроса

Aaron Lasher
If you did the set off, it is considered a sale of...

I am confused about the treatment of the forced swaps of my alt coins. Do they need to be filed for tax year 2023 when they were swapped?

0

7 месяцев назад

Aaron Lasher

Crypto Chick
I am confused about the treatment of the forced sw...

I am not an accountant, nor a lawyer, so my advice is worth what you are paying for it. The values for when these assets were swapped (sold) is open to some interpretation. It is up to you how aggressively you decide to value the assets, and at which time you believe the sale occurred.

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7 месяцев назад

Aaron Lasher · Accepted Answer

Aaron Lasher

When you saw forced swap, do you mean you were liquidated for a loan, opted for the set off treatment, or received dollars instead of crypto?

0

7 месяцев назад

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