Replies to post #34428 on China MediaExpress Holdings, Inc. (fka CCME)

[swampboots]

Yes almost 7 years,,,I have ton of losses from my Chinese stuff so need profits to offset them..............if I ever sell property can get rid of some that way. At one time my profits were so high I was trying to buy losses, now I am in opposite boat..all my glib micro-audience disappeared, have to retrain to be a real thinker now to get my revenge. Yet stocks make up less than 5% of my investments but 95% of my head thinking and its quantitative minute to minute report cards.

[nsomniyak]

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.