Thanks @Mike9241 . I am so sorry for unintended confusion on my part. I am only interested in savings acct treatment.
I understand that in the case of savings acct the loss (due to depreciating lira) will be ordinary loss. You said that to realize the loss due to lira depreciation it must be liquidated. Can I close the account at the end of the year and move the money to a new savings acct (just to liquidate it and realize the ordinary loss so that it can eliminate the tax burden coming from the interest part) ? For example, you make 20% interest in lira and lira depreciates 20% against USD in the same year, then by closing this acct and moving the lira to a new savings acct, I avoid paying tax on the 20% interest as interest income is neutralized by the same amount of lira depreciation?
