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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: shortlong2 who wrote (2607)	7/2/1998 10:57:00 AM
From: Ray Rueb	Read Replies (2) \| Respond to of 10081

RE: sell some stock to pay Uncle Sammy? No, this doesn't apply to me. Since I'm not a professional day-trader, and I'm on cash basis accounting, I won't settle with uncle sam until Jan 15. I was hoping to pay $100,000 in taxes, but the events of the last week have indicated that I might not need to pay that much. My understanding is that I need to make sure that I meet 1997 tax liability level by Jan 15. Since this would be my first year of truly huge gains, the government allows me to carry my tax liability until Apr 15, as long as paid in taxes by Jan 15 equals total tax liability of previous year. GMGC was the largest moving NASD stock for 1st half of 1998. THANKS FOR THE RIDE, it may have been a once-in-a-lifetime thing.