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To: Nosmo King48 who wrote (20213)	4/24/1998 3:34:00 AM
From: JHR	Respond to of 95453

OT ON taxes Michael, actually what happens it seems s that all your 28% gains get taxed at 20%. I got a couple E mail responses from Taxcut and their response is that the IRS calculates differently from the specs it gave taxcut to use. Actually the calculation is made at line 50 on sched D and thats where taxcut claims the IRS "incorrectly processed" these as subject to 20% versus 28%. This seems right, since if they had just moved line 15 on Schd D to 14 on 1040PC that would have zeroed out the entire cap gain since 14 is cap loss carryover. The resulting miscalculation from that would have been much greater. TaxCut's suggestion to me was for me to call the IRS to see if they are going to adjust in the future or are they going to stand by their calculation. I'll check out the referenced site.