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Technology Stocks : Ascend Communications (ASND)
ASND 212.29-2.2%Nov 19 3:59 PM EST
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To: Jan Crawley who wrote (31083)1/20/1998 8:35:00 AM
From: Glenn D. Rudolph  Read Replies (1) of 61433
 
However, What I know at this point is that one has to cover on or before 1/31/98 to
qualify the original shares ( shares you own and aginst which you shorted ) for future
cap-gain purpose. -- Profit from "Short against the box" is a constructive sale and taxed
as regular income.

Jan,

Feel free to research further. It is my understanding (I have been wrong many times before) that the short against the box capital gains/loss affects were removed with the change in capital gains loss tax changes that occured about a year ago.

Glenn
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