Replies to post #38562 on World Moto Inc. (fka FARE)

[alien42]

that $3000 limit is for short term holdings only and has absolutely nothing to do with long term (over 1 year) holdings.

i will never understand why the uninformed choose to post such nonsense.

[sewer182]

Selling 20k shares to get a max of $3k is correct. The rest would be classified as "carry over loses". Those carry over loses would offset any gains in the years to follow. So if you made $17k profit next year, there would be no taxes due.