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Help. I shorted a stock early in 97 and have been sitting on it ever since. The money that was put into my account is now counted as income. If it were a stock that I sold after having bought it, I would only pay taxes on the capital gains, but since I still haven't bought this one, how do I account for it? Do I have to pay taxes on the entire amount that I shorted it for? Somebody please help?

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