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To: drakes353 who wrote (7710)	3/11/1999 5:05:00 PM
From: Lucretius	Respond to of 8359

... you could be right. i didn't do much short selling till a couple years ago, and will have to check the code but I was told you could. I know you couldn't a couple years ago, but I thought it was changed when they changed the rules on shorting the box?

To: drakes353 who wrote (7710)	3/11/1999 5:08:00 PM
From: Early Out	Respond to of 8359

Check with a tax accountant but I'm 99.9999999% sure that gains on short sales are always short term, no matter the holding period. You are 99.9999999% correct. The holding period is determined by how long you held the stock you used to close your short position. For most people this is only a few short minutes when you buy stock to close out the position, and so even if you have had the short position for two years it's a short-term holding period as far as capital gains goes. However, if you closed out the position with stock you held yourself for longer than a year, you would have a long-term holding period for your short sale. -jsc