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To: Alski who wrote (9050)	6/18/1999 2:07:00 PM
From: Thean	Read Replies (2) \| Respond to of 14427

Alski, Congratulation for getting your CPA qualification. Have you quit your engineering job? <GG> EMC appears to want to close at 57 3/4. Bye-bye my EMC shares. The real test comes when EMC is trading close to $59. A close above that would be very bullish. I think that event will come when people start talking about the summer rally following the FOMC meeting.

To: Alski who wrote (9050)	6/18/1999 2:11:00 PM
From: SJS	Read Replies (1) \| Respond to of 14427

Alski, I question some of that advice only because if you start making adjustments on your schedule D to the underlying security, the gross rollup amounts are going to be different (read: lower), and trigger an audit. You're right about one thing. This stuff is so complicated with stock and option poisitions together (longs, short, spreads, straddle, exercises, assignments.....) that many CPA will advise differently with the same data!!! There is NO computer program that I know of that can figure this out to help the taxpayer. This stuff is way over the head of most, if not all, IRS helpline folks. Even the IRS rules documentation is difficult to interpret and understand for help. I just treat EVERYTHING as a separate transaction and it's worked out just fine. I understand it, can explain it, and justify it. I, of course, always list the option trades even though they are not given to the IRS directly. What the IRS should do is to publish a help guide with dozens of real examples (long stock, short call, sell stock for a loss, call expires worthess, etc) to guide taxpayers instead of all the theoretical accouting-speak. If you know of a document like this, I am sure most people here would enjoy reading it...for corroboration of their personal reporting methods, of course <g>!!! Regards, Steve