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Politics : Idea Of The Day
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To: Judy who wrote (14054)11/12/1997 1:30:00 PM
From: bob wallace   of 50167
 
okay judy,

I found this:

Short-Against-the-Box Sales. Taxpayers who sell securities short-against-the-box ("SATB") (or enter into other "constructive sales") will generally be required to recognize gain on the securities held as if they had sold the underlying securities. This rule will not apply to taxpayers who close the short position within 30 days after the end of the tax year in which it was established and who continue to own the long position for 60 days after closing the short position. This permits gains to be deferred from one year to the next.

at this location: ssbb.com

I am hardly protecting a large gain, therefore I think that I fully intend to sell the underlying security, eventually

Bob
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