INTC Message Board - Msg: 1790129

STOCKTALK

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Technology Stocks : INTC

INTC 35.53

-1.1%

Nov 14 9:30 AM EST

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To: Frodo Baxter who wrote (573)	7/18/1997 11:06:00 AM
From: Dave Budde	of 990

Is this some special state tax rule? I thought that it worked for the federal tax. You aren't actually converting a short termer to a long termer. These are separate transactions. Should be treated just like two normal buy/sell transactions of the same stock. As long as you specify which shares you are trading at the time of the trade, then it should work. Any tax accountants out there that can clear this up? You are right about the gain on the short sale if the stock goes down. Presumably this is a smaller gain than the gain of the original stock that went up. Whatever. At any rate, if it doesn't work, then you might consider a no-income-tax state to minimize the bite. That's what I did. I think the 0 tax states include: Washington, Nevada, Texas, Alaska, and New Hampshire (not sure of this last one).

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