It definitely wasn't intended to be a gift that's for sure lol. So I'm good on that one.
But yeah I guess my conclusion from this is I won't be able to deduct the loss but it seems since it's not considered a gain at least I wont have to be taxed on it either. So seems like a draw. From everything I've read it's not considered part of taxable gross income, it's considered capital gains which again is not the case here that's for sure.
Thanks to everyone who responded, appreciate the help!
