In importing June 2023 transactions, CoinLedger is reporting a significant amount of Income that is not income.

In June, Voyager irrevocably reduced our holdings in all coins by approximately 75%. This should give rise to a loss, and you are not reporting any taxable transaction for this activity. Although not confirmed, this is most likely a capital loss on each of the coins.

Instead, you are reporting the fair market value of the remaining coins as Other Income. These remaining coins were not subject to any transaction so there should be no taxable event. They should continue to carry their original basis. There should be no taxable event related to the remaining coins in June.

When these coins are transferred out to other wallets or exchanges, they should continue to carry their original basis.

In August or September of 2023, Voyager will be liquidating any coins that remain in the accounts and distributing the resulting cash to the holders. At that time, CoinLedger should be reporting a capital loss as the net between the proceeds received and the original basis of the remaining coins.

It would be nice, as our Crypto tax experts, if CoinLedger would confirm this tax treatment of these transactions and adjust the treatment of the imported transactions accordingly.