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Non-Tech : Any info about Iomega (IOM)? -- Ignore unavailable to you. Want to Upgrade?

To: slipnsip who wrote (33449)	10/27/1997 9:07:00 AM
From: Triluminary	Read Replies (3) \| Respond to of 58324

David, (OP: 28 5/8 -- I'll play contrarian) Don't know for certain but that is what I've read. I'd be grateful if someone here could clear it up. All the articles I've read use the following reasoning... This pertains specifically to wash sales but it gives the conditions required for the completion of a short sale. irs.ustreas.gov Short sale completed. For purposes of the wash sale rules, a short sale is considered complete on the date the short sale is entered into, if: 1. On that date, you own stock or securities identical to those sold short (or by that date you enter into a contract or option to acquire that stock or securities), and 2. You later deliver the stock or securities to close the short sale. Otherwise, a short sale is not considered complete until the property is delivered to close the sale. If a company goes bankrupt you would not replace shares you shorted. Hence, there is no completion of a short sale. Ergo -- no taxes are due. Sounds plausible anyway, but perhaps someone here can say for certain one way or the other. Regards, mark_b