Tell your broker that you want to go short against the box... You will then be long and short.. If you deliver your shares after LT holding period you will have a long term gain on the long and a short term gain or loss on the short..It's easy to do but your broker has to be willing... If for some chance he has loaned your shares he will give resistance...hank
OT--cl001--"shorting against the box". Research this. I looked in to it the other day (same problem, IPII has put me in to the 35% tax bracket & I'd love to have the shares I own from November in a 15% bracket). The newest IRS rulings will not allow you to do this anymore easily. Here's a link describing the problems: