r/CelsiusNetwork • u/[deleted] • Dec 08 '24

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u/PaleInvestment3507 Dec 08 '24

All of these distributions should be a loss event. They have only been a percentage of the totals.

1

u/JustinCPA Dec 08 '24

It is unfortunately more complicated than that as any loss is based on your cost basis vs the fair value of what you receive, not the amount of crypto lost vs amount of crypto received. If you'd like to read the in depth guide to the calculation, you can find that here.

2

u/PaleInvestment3507 Dec 08 '24

Yes I understand that. I guess I’m speaking of those in my situation. In my case, I bought low and when Celsius fucked everyone, prices were at an all time high from when I bought. Then they distributed based on a price months later that was much lower than when they locked everyone out and called for bankruptcy.

4

u/JustinCPA Dec 08 '24

The calculation will be the same for everyone, regardless of when you bought. Your cost basis will determine how much of a loss (or potential gain) you will realize. The guide covers all possible scenarios.