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  • RE: Forex trading - capital loss

    Hello, I would like to check if the Taxable Income from Saving Interest can be offset by Foreign Exchange Loss? For example, - In May 2023, I convert GBP 30,000 to USD 37,000 (principal) in an online broker platform. - During May to Nov 2023, some interest was gained about GBP 2,000. - In Dec 2024, I convert the USD 37,000 to GBP 27,000 - It result in a FX loss of GBP 3,000 (GBP 30,000 - GBP 27,000) compared with the principal in May 2023. Could the FX loss (GBP 3,000) use to offset the interest gain of GBP 2,000? If yes, any special note for reporting in tax return? If no, is it becasue I treat the GBP 2,000 as interest instead of capital gain? Thanks.