Wednesday, April 30, 2003 11:56:20 AM
Sonetirot
He is full of it is as they no longer allow what used to be called shorting against the box, which was when you sold stock but retained your stock as a guarantee to be able to deliver the stock if the short position went against them. Now if you sell stock you are either selling a long position or you are out and out right short. I will not rule out dual accounts and selling but the IRS will look at it as a out and out right sale and will not allow any losses you sustain on your short if I am not mistaken.
Mickey
He is full of it is as they no longer allow what used to be called shorting against the box, which was when you sold stock but retained your stock as a guarantee to be able to deliver the stock if the short position went against them. Now if you sell stock you are either selling a long position or you are out and out right short. I will not rule out dual accounts and selling but the IRS will look at it as a out and out right sale and will not allow any losses you sustain on your short if I am not mistaken.
Mickey
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