Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Zeuspaul who started this subject	6/22/2001 12:55:17 PM
From: mel221	Read Replies (1) of 5810

Multiple accounts and "Shorting against the box" I have a long term account where I have 1000 shares of XYZ that I have owned for years and want to continue to own. I have a short term trading account where I day trade and position trade. I don't want to lose my long term capital gains status for my XYZ position, so I have avoided trading XYZ in my short term account. I would like to know if I can day/position trade XYZ in my short term account without hurting my long term position? I think short term buys are not a problem since I can easily identify the lot. New position bought, New Postion Sold. I am concerned about opening a short position in XYZ in my short term account. I'm sure this is a common situation, so what is the concensus opinion?

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