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Against The Box

short sale by the holder of a long position in the same stock box refers to the physical location of Securities held in safekeeping when a stock is sold against the box it is so short but only in effect a short sale is usually defined as one where the seller does not own the shares here the seller does own the shares holds a prolonged position but does not wish to disclose ownership or perhaps a long Shares are too inaccessible to deliver in the time required or prior to the taxpayer Relief act of 1997 he may have been holding his existing position to get the benefit of long-term capital gains tax treatment in any event when the sale is made against the Box the shares needed to cover our borrowed probably from a broker this technique was eliminated as a way to reduce tax liabilities in the taxpayer Relief act of 1997 also see selling short against the Box

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