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This will be deductible as a capital loss. The maximum loss you can deduct in a year is $3,000($1,500 if married filing separately) against your other income. Balance loss will be carried forward and allowed in future.
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Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.