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To: Oeconomicus who wrote (3216)	4/21/1998 3:40:00 PM
From: zebraspot	Respond to of 164684

>>Buying puts would not be<< My understanding (from my accountant) is that the new rules are incompletely written by IRS at this point, but that the intent of last year's tax bill clearly made puts against a long(as well as shorting-against-the-box) a "constructive" sale. I also recall discussing it by email with the tax guy over at Motley Fool late last year. and he concurred. Seems if you get rid of your puts by January 31(or cover your short, in the case of a short-against-the-box) and go naked on the stock for 60 days miniumum thereafter, there is an exemption. Sorry I don't have a link, but you might email Motley or check out their related threads.