Zuckerberg said in his presentation there would be a crypto/NFT element to his metaverse.
In AU you can only deduct capital losses against capital gains. What is the situation in the US?
Same
Capital losses can exceed capital gains up to $3k per year with some ability to carry over losses into subsequent years. There are also some particulars about the order of deducting long/short term losses against long/short term gains IIRC.
Capital losses directly offset capital gains, but if you have excess losses, you can deduct a relatively small amount of them from general income: a few thousand dollars. And if you have more than that limit you can carry them over to later tax years.