Home > Boards > US OTC > Delisted > China MediaExpress Holdings, Inc. (fka CCME)

No. I may not have been clear.

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
nsomniyak Member Profile
Member Level 
Followed By 240
Posts 17,851
Boards Moderated 17
Alias Born 07/25/03
160x600 placeholder
nsomniyak Member Level  Sunday, 03/24/13 12:58:27 AM
Re: Traderfan post# 34428
Post # of 34471 
No. I may not have been clear.

There is no limit to the amount of gains you can offset with losses. In addition to that, if you losses exceed your gains, you can use losses to reduce your other taxable income up to a limit of $3000.

If you lost $20K on CCME, and had $25K in gains - you can offset $20K of the gain with your CCME loss and have a $5K net taxable gain.

If you had $17K in gains, your $20K loss would offset those and also reduce your other taxable income by $3K.

However, if you only had $15 K of gains that year, your $20K loss would offset those, reduce your other taxable income by $3, and give you a $2K loss carryover to the next year.



If I could afford to buy all of them, I would not need to buy any of them and I sure wouldn't be spending time on the message boards!
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist