Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: summerboy who wrote (29324)	4/12/1999 11:34:00 AM
From: Mama Bear	Read Replies (1) of 122087

hberg, I meant to respond to you concerning that, but forgot. I do not believe that boxing will change a long term gain to a short term gain. You can't turn a short term gain into a long term gain simply by boxing and waiting, nor defer the tax. But the way I understand the tax law a short sale against the box is now viewed as a 'constructive sale' of those shares. Selling calls and buying puts at in the money strikes (a collar) would also be viewed as a constructive sale. I do believe that one can short against the box, and then close the short side while holding the long side exposed to market risk for 60 days, and the two transactions are considered separate. Please stay within the spirit of the 1997 'full employment for tax advisors law' and consult your tax advisor for details. Barb

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