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Technology Stocks : Zitel-ZITL What's Happening -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Chisholm who wrote (17909)	6/5/1999 10:20:00 AM
From: Mama Bear	Read Replies (2) \| Respond to of 18263

"Any capital losses you generate on your investment of the (freed-up) short sale proceeds can be used to offset capital gains taxes you would otherwise owe on the short sale profits." True to a point, but if the long position is held more than a year, wouldn't it be a long term capital loss? If I understand correctly, one can't use a long term capital loss to balance a short term capital loss. Since a short sale can never acheive long term treatment, it would seem to be a (minor) fly in the ointment. Barb