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Subject:  "Substantially identical property" Date:  11/8/1999  6:27 PM
Author:  CarlErikson Number:  20707 of 127617

Maybe this has already been answered somewhere - but after several hours of searching I couldn't find the answer to this exact question...

Is there a definition of "substantially identical property" somewhere? Suppose I have an account that contains 100 shares of Yahoo! and has been held long term. However, suppose I also want to actively trade in this account and I short 500 shares of Yahoo! and then close this position a day later. Is this considered a "constructive sale" even though in my mind I am not touching the original 100 shares during this transaction? Can I "specify" that these 500 shares are completely different than the 100 shares of YHOO that I originally purchased several years earlier?

Thanks for any help you can give me,
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