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Technology Stocks : Avant (AVNT)
AVNT 31.10+1.1%Dec 18 4:00 PM EST
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To: Cautious_Optimist who wrote (1673)12/12/1997 5:46:00 PM
From: Mama Bear  Read Replies (1) of 3441
 
>>>How do the new 18 month capital gains rules apply to short positions? <<<

You can't legally take a long take a long term capital gain for a short position (you could try switching the buy and sell around on the D, but don't get audited) unless I am mistaken. I've never had a short position open that long (don't think I ever will), so consult a tax advisor for details. Of course, my understanding is from the old two tier system and it's a new tax code.

Barb
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