Thanks so much @Mike9241 , makes a lot sense.
Liquidating the account means just closing the account, right? At the end of every year, I can close the savings acct and move the money to a new savings acct, so that forex loss always stays low; otherwise it seems that forex loss is considered capital loss, which IRS limits to 1500/year to be deducted. I assume we report the forex loss as part of SchD capital loss. This way, money is not withdrawn for personal purposes, but rather it is used to create a new savings account every year. Is this what you meant below, or you meant forex losses can only be deducted if we operate a forex trading business?
