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

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To: ViperChick Secret Agent 006.9 who wrote (745)3/9/1998 9:29:00 AM
From: Colin Cody  Read Replies (3) of 5810
 
If you don't state to borrow against your shares (held in the box) then the normal routine is that the broker shorts against shares he borrows from the brokerage/transfer agent.
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Actually, while the above is true, I don't see the difference for TAX reporting purposes. I suppose you can just short a stock any way you want to, and if you also have a long position the IRS would invoke the rule.
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Colin
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