Titan Medical Inc (TMDIF)

[Geo2014]

The "up to $3k" is the limit you can subtract from your income every year. That is different than using capital losses to offset capital gains.

PFIC status is still somewhat unclear to me but the way I understand it, all capital gains from the sale of PFIC shares are treated as ordinary income for federal income tax purposes and will not be taxed at long-term capital gain rates. I believe there are additional fees paid if one does not file a Form 8621 each year they own a PFIC stock.