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

To: Mama Bear who wrote (17910)6/5/1999 10:31:00 AM
From: Dave Mansfield  Respond to of 18263
 
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 achieve long term treatment, it would seem to be a (minor) fly in the ointment.

Not exactly true. One must first use long term capital losses against long term capital gains. After all the long term capital gains are used up, you can then offset short term gains with long or short term losses. No fly in this ointment.

Dave



To: Mama Bear who wrote (17910)6/5/1999 10:53:00 AM
From: Daniel Chisholm  Respond to of 18263
 
Hi Barb,

I'm an Evil Naked Canadian Shortseller (TM), so my knowledge of US tax law is all second hand. The good news is, I don't have to deal with the IRS. The bad news is, I have to deal with Revenue Canada ;-)

I see that Dave has already replied to this post -- based on what he wrote, it looks like the ointment is still useable.

- Daniel

Sure is a quiet day when we're talking tax on the ZITL board ;-)


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