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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: brushwud who wrote (105250)	4/13/2000 10:13:00 PM
From: that_crazy_doug	Respond to of 1575424

<< This used to be the case in the U. S., but a couple of years ago the law was changed so that "shorting against the box [your broker's vault of stock certificates]" is considered to close out your long position for capital gain or loss purposes. >> Ahh nuts, they stop all the fun ;) I thought you could still do it if you had it set up in two different brokerage accounts, but I'm probably wrong.

To: brushwud who wrote (105250)	4/14/2000 12:24:00 AM
From: PerryA	Respond to of 1575424

This used to be the case in the U. S., but a couple of years ago the law was changed so that "shorting against the box [your broker's vault of stock certificates]" is considered to close out your long position for capital gain or loss purposes. I believe you can still defer gains to the next year by shorting against the box if you cover your short by January 31st of the following year and hold the stock unhedged for at least 60 days after covering. Double check before you do it, though. PerryA