Writing Custom Label Expressions

[ABPotter]

I am new to writing expressions. Is there a way for me to write a custom label expression only using part of a parcel number? See part in red. I need to somehow label this part to get a way from annotation if possible.

EX: 

05-49-09-30-0-000-006.000 <- I need this to show as the label.

05-48-08-28-0-000-001.004 <- I need this to show as the label.

I accidently posted this in the ArcGIS online instead of here earlier today. The bright side is I will utilize that later with my online account. I have taking that information given from that post, and I have researched some more. I am still having issues though. Can someone please help me out? I have attached a picture of where I am trying to do this at.

[KenBuja]

Click the Expression button and select the Python parser. Click the Advanced button and add this:

def FindLabel ( [PID] ):
  return [PID][-7:]

This what the dialog would look like (using different fields)

Note: if the other post's answer helped you for ArcGIS Online, remember to click the "Accept as Solution" button