I’ve earned money in yen for many years. Last year I converted and sent a significant amount of money to the US, obviously at a loss vs the exchange rate at the time I was paid. Can this loss be used to offset my 2023 wages? Various articles online seem to hint at the fact that I would have a significant taxable loss due to this transaction, at ordinary income rates. Does this mean I can just reduce my foreign income by the amount of the loss?
by AdministrationOk2735
