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Strategies & Market Trends : Angels of Alchemy
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To: TsioKawe who wrote (23812)12/20/2000 11:16:44 PM
From: Marshall001  Read Replies (1) of 24256
 
I don't believe short positions held over the New year are counted as income. This is because regardless of what your account reads, it is still considered an open position. It would not affect your tax status until the position is closed... Its the same as holding a long position through the new year.. You cant claim 30K of loss because you bought a stock and have not sold yet. Also,

Gains made from an uncovered short sale are not held in your general account and are not added to your buying power. Its not real $$ till you actually cover for better or worse.

Good Luck,

M
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