Yes, speechboy, you do know the answer, and it is the answer you don't want to hear. You will owe tax on the $1500 gain. But look on the bright side. If AOL goes down to 50, then you'll have a big loss to balance against the gain, and the tax will be wiped out when you sell at 50. (Provided, of course, AOL plummets before January 1).I have frequently employed this method of avoiding capital gains taxes.
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