Including the loss as other taxable income does reduce your income overall but is not included in your investment income in order to adjust that.
If you wanted to include the loss in the actual investment as an adjustment to the sale of the investment that you purchased then you would not enter it on the tax return this year but keep the paperwork and enter it as an adjustment to your basis when you sell the investment. At that point it will be able to help with your investment tax.
@lajax
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