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Thanks a lot for all of your message. However, I am still a little confused.

My question is actually simple: I lost big money (I traded stocks many times, and the lose has been realized). If I get some gains in the next year which just cover my lose, should I pay tax for these gains?

My situation is that I traded many stocks during this year, and my account is actually a big loss. i.e. I am not holding those positions. According to what you pointed out: "I have to report those lose on my tax return, and my loss is deductible".

I don't understand what that means to me. Since I lost a big money, even I report my lose which is deductible in my tax return, it still doesn't cover all of my lose. (I invested $60K and lost $40k, which is even more than my current annual salary). So, how should I deal with such a bad situation?

Thank you very much in advance for your further advice.
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