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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: Kaye Thomas who wrote (486)	9/8/1998 11:17:00 PM
From: Dan O.	Respond to of 1383

Thanks: I'm covered on all three. And last Friday bought GE sep75c's and I might be in trouble again. Life's a beach. Dan Ogens

To: Kaye Thomas who wrote (486)	9/11/1998 9:18:00 AM
From: Sanzen	Respond to of 1383

Short sale against the box To all: I have a large position in a stock with a substantial gain and I would like to post the sale until it reaches one year (in Jan. 99) to get long term treatment. I was thinking to do this through "short sale against the box". The new tax law prohibit this strategy exception the following three conditions are met. From IRS Pub. 550: 1) you close the transaction before the end of the 30th day after the end of your tax year. 2) your hold the appreciated financial position throughout the 60-day period beginning on the date you close the the transaction. 3) your risk of loss is not reduced at any time during that 60-day period by holding certain other positions. So, as long as I close the short position no later than Jan. 30, 1999, and hold my long position for another 60 days, then I am all set. Did I get this right? Thanks in advance.