Titan Medical Inc (TMDIF)

[Geo2014]

...getting back to tax offsets...

The way it has been explained to me is that if you have a capital loss of $50k this year and a capital gain of say $55k next year, you can cancel out $50k of your $55k gain with your previous year's loss. If you had a $60k loss the previous year you can cancel out the $50k gain AND still write off $3000 from income in that same year. So if you bought shares at a premium, it is not a bad idea to sell'em...BUT, keep the Wash-sale rule in mind - you gotta wait 30 days to purchase those shares back. I made that mistake a couple years ago. I could've taken advantage of a huge loss but I bought back in too soon because I got nervous when the pps started going up.