I let someone money, and they gave me gems as collateral. They defaulted on the loan and I finally sold all the gems. I have loss.
I am using H&R Block Software, but they are vague on how to enter it, other than saying it goes on Schedule D as "ordinary".
I tried entering it as I would a stock sale and chose "ordinary" as the type. Does that work. Is there anything more to do?
Thanks.