Former Voyager users will begin receiving a second disbursement as part of the ongoing Voyager bankruptcy recovery plan starting on July 31st, 2024. These disbursements will arrive at their address on file with Voyager via a USD-dominated check. This comes after the first round of checks which were sent out to Voyager users in 2023 (for information on reporting those initial bankruptcy distributions from 2023 on your taxes, please see THIS GUIDE).

However, handling these transactions for tax purposes can be complex, and the correct approach to claiming them on your taxes depends on your individual financial situation. In this article we will outline the approaches you can take to claim this second Voyager disbursement on your taxes. Please note that the information in this article is for informational purposes only, and should not be taken as tax or investment advice. Consult with a tax professional before making a final decision.

When it comes to claiming these disbursements on your taxes, many tax advisors will advise you to treat your second 2024 bankruptcy disbursement from Voyager as a continuation of the bankruptcy disbursements you received from Voyager in 2023. The way to represent that in CoinLedger would require editing your 2023 Voyager bankruptcy transaction(s). Here’s how:

First, if you received a disbursement via check from Voyager in 2023, then you should import all of your Voyager transactions into CoinLedger [learn how to do so HERE]. Once you have done so, you can then locate your initial bankruptcy liquidation transaction(s) from 2023 in CoinLedger, and edit them to include the amount of your 2024 disbursement check in AMOUNT under the ASSET RECEIVED field, as shown below.

Step 1: Locate the transaction in CoinLedger which you wish to edit. Select the three dots next to the transaction and press Edit Transaction.

Step 2: Next, add the amount of the second check you received from Voyager to the Amount tab under the Received field. Do not simply delete the amount that is already there, but instead add the amount of your second check to what is already shown there by summing the amounts together and typing in the result.

Ex: $25 = $75 = $100.

Then, press Save.

For example, if Voyager liquidated your OCEAN in 2023 for $75 USD, as shown above, then you would add the US dollar value you received on your 2024 disbursement check to the Amount tab under the ASSET RECEIVED side of that transaction. If you received a $50 check, your proceeds would now be $125 on this transaction. You would type $125 in the Amount tab and then press Save.

However, it is important to note that if you choose to go with this approach and edit your original bankruptcy liquidation transaction from 2023 to include 2024's proceeds, you would have to go back and amend your 2023 tax return.

CoinLedger is not able to make an official recommendation on which approach you should take. It is important to consult with your tax professional before making any decisions.