Not sure your client can take this, but you should research it.

 losses available outside of a trade or business is a loss related to a “transaction entered into for profit,” as described in section 165(c)(2) of the Code. This deduction has several key differences from the deduction under section 165(c)(3). The section 165(c)(2) deduction is not subject to limitations on the amount of the deduction and is not subject to the TCJA suspension for tax years 2018 through 2025. Further, the deduction under section 165(c)(2) is deductible in the year that the loss is discovered.