Okay, so the real situation is this: I want to buy something for ~$17,000 (a watch which is also an asset?), but my credit limit would make that process difficult. So instead, someone else will buy said item for me and I will send them the $17,000 worth of BTC from my wallet to theirs to pay them back. The BTC I have is worth significantly less than when I bought it.
1. Would I be able to claim a loss in this case? And how would taxes work for the other person here?
2. Is it just simpler to sell my BTC and give them the cash, with the downside being the delay to transfer money around?
