Crypto Tax Alert: Navigating Celsius Bankruptcy Payouts

Join us as we unravel the complexities of the recent Celsius payouts and their tax implications for crypto investors. In this insightful video, Andrew Gordon, a seasoned CPA, guides you through the nuances of how these payouts can either save you thousands or create unexpected tax liabilities.

Learn how your past tax filings play a crucial role in determining whether your payout is taxable income or a return of property. We'll walk you through real-world examples, illustrating the impact of claiming losses in previous years and how to allocate your cost basis correctly.

Whether you're receiving Bitcoin or Ethereum, understanding these tax implications is vital. At Gordon Tax, we specialize in crypto tax reporting and strategy, ensuring you don't pay more than you should.

If you've received your Celsius payout or are expecting one soon, reach out to Gordon Tax for personalized advice. And in the comments, share your experience: did you claim a Celsius loss in prior years, or are you waiting until the bankruptcy is finalized?

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