Calculate Your Celsius Losses Correctly.
A focused, self-paced course built by the former Big 4 accountants and a licensed CPA at Count On Sheep — designed specifically to help account holders affected by the Celsius bankruptcy work through their losses, recoveries, and tax reporting accurately.
- ✓Calculate your actual loss using the right cost basis and recovery values
- ✓Treat the BTC, ETH, and Ionic stock distribution correctly on your return
- ✓Report cleanly on Form 8949 and Schedule D with a defensible paper trail
- ✓Lifetime access, self-paced, built by former Big 4 accountants
Built specifically for Celsius account holders.
The Celsius Timeline
What happened, what the bankruptcy court ruled, and what the distribution looked like — in plain English, with the dates that matter for your tax reporting.
Gathering Your Records
Exactly which Celsius statements, exports, and court filings you need before you can calculate anything correctly.
Calculating Your Loss
How to measure your actual loss — accounting for the partial recovery in BTC, ETH, and stock — instead of using the wrong cost basis.
Capital Loss vs. Other Loss
How the IRS treats different parts of the Celsius situation. The framework professionals use to decide which bucket each piece falls into.
The Recovery Distribution
How to treat the BTC, ETH, and Ionic shares you received post-bankruptcy. Cost basis assignment, holding period rules, and reporting timing.
Form 8949 & Schedule D
How the calculated loss flows onto the actual IRS forms — line by line, with worked examples.
Common Pitfalls
The math mistakes and reporting errors we see most often when people try to handle this without guidance. How to avoid each one.
Documentation You'll Need
A clean record-keeping checklist so if the IRS asks questions later, you have everything organized and defensible.
What to Tell Your CPA
If you work with a tax preparer who isn't crypto-native, exactly what to hand them so they can finish your return correctly.
Anyone affected by the Celsius bankruptcy.
Earn Account Holders
You had funds in Celsius Earn. You want to calculate your loss correctly and report it on the right forms.
Custody Account Holders
Your situation is different from Earn. You need to know what's reportable, what isn't, and when.
Recipients of the Recovery
You received BTC, ETH, or Ionic stock as part of the distribution. You need to know how to assign basis and report it.
People Working With a CPA
You have a tax preparer but they're not crypto-native. You want to hand them clean numbers and the documentation that backs it up.
From the team that does this every day.
The Count On Sheep team is built on former Big 4 accountants and a licensed CPA who handle crypto tax reconciliation for individuals, traders, founders, and businesses across the country.
We built this course specifically for Celsius account holders because we've walked clients through this exact situation. The math is unforgiving, the documentation is dense, and the IRS rules around bankruptcy losses aren't friendly — this course distills what professionals actually do.
Bankruptcy-specific tax treatment. Lifetime access on Whop. Self-paced.
Calculate your Celsius loss the right way.
Self-paced and built by the same team that does crypto tax reconciliation for clients every day. Get a clear, defensible loss calculation and a documentation trail you can stand behind — whether you file yourself or hand it off to your CPA.