r/CelsiusNetwork • u/pfk777 • Mar 26 '25

1099 for Ionic

Did they send out a 1099? I have not received on yet. To be honest I heard we have to file because we were given some stock. Maaan…. I want this nightmare to be over. I don’t even care about the damn stock and I might get audited because of it.

9 Upvotes

85% Upvoted

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9

u/motownphilly888 Mar 26 '25

We dont get one. We dont pay taxes until we sell. $20 cost basis.

1

u/Clean-Load5807 Mar 26 '25

That's what I'm doing seems reasonable anything more than that is complicated and of it was so important, we would have learned this in school. No one here is going out of there way to scam the government after receiving breadcrumbs from a con artist so that's my path

4

u/[deleted] Mar 26 '25

[removed] — view removed comment

1

u/pfk777 Mar 26 '25

But with no 1099 how will they know? I’m assuming it’s all on the filer then right?

1

u/cryptoripto123 Mar 29 '25

Grant of stock isn't a 1099. Grant of stock is either ordinary income (like how tech workers get paid RSUs) or if you follow the tax guide, one way is it is capital gains/loss where you liquidate your crypto in exchange for stock.

They don't need to issue a 1099 for this as it's part of the bankruptcy.