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Strategies & Market Trends : Sonki's Links List
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To: Julius Wong who wrote (339)2/7/2000 8:15:00 PM
From: Sonki  Read Replies (3) of 395
 
short against the box rule. SAB

the rule that congress past in 1997 to stop people from never paying capital gains taxes. The SAB "short against the box" rule says that if you SAB you must cover by end of the first month of the next year or the short is a constructive sale on the date of the short. You must also not short that position again for 60 days. Again SAB is shorting a position that you are long at the same time. It must be the same stock or mutual fund. Shorting SPY and holding a mutual fund is not a SAB.
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additionaly if u SAB against a short term holding then your holding period is not counted during sab time. i.e. To establish a long term holding u must hold the stock not sab for a year. The clock resumes again as u unSAB.
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