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Dear Board members,
Here's a long question.

I have some stock options at the company I work.
I had a question on exercising my stock options.

Lets say I exercise my options and sell them before
1 year, will my gain be short-term capital gain or
will it be ordinary income (same as exercise and sell on same day - cashless transaction).

Why I ask this is because I made a lot of losses on
internet related stocks and want to offset my loss
with gain from stock options. But as I understand it now, I cannot offset my loss if I do a same day sale.

Thanks for all replies.

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