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Politics : Formerly About Advanced Micro Devices
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To: steve harris who wrote (103054)4/9/2000 1:32:00 AM
From: chic_hearne  Read Replies (1) of 1576181
 
RE: taxes-"Right now, I'm working on a way to roll my April options in to July/October/Jan options. I have to come up with the best way to avoid taxes this year."

How can you avoid paying taxes by rolling options into later dates?

A gain on a sale is taxable is it not, even if you buy back similar or identical assets?

If you exercise options or get them exercised against you, you an add (or deduct) their value into the stock you gained, but that is the only tax delay I know of.

Bill Jackson I think mentioned in Canada you can sell a stock and buy it back within a certain time frame and carry/defer the gains, but not here in the states.

Did I misunderstand?

steve

Steve,
Yes, you misunderstood. I will be taking a huge hit with my 51 April contracts, that's unavoidable.

What I am trying to do is find a way to roll those profits into july/october/jan calls that I don't have to take a tax hit with (at least until tax year 2001).

For example; anything january can be put off until next year. If I buy July/October, I want to make sure I can exercise so that taxes can be delayed until 2001 (minimum).

Obviously, this "processor" game cannot be predicted very far in advance. But, I want to put myself into a position where I have a good chance of taking a long-term cap gain as opposed to a short-term gain.

chic
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