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Hi mawhinney,

Peter Thelander in a previous TMF article explains that:

“Long-term items are netted separately from short-term items. Then, the long and short are netted together to produce the final result.”

He then goes on to provide examples at:

http://www.fool.com/school/taxes/2000/taxes000107.htm

Take a look at that link – a very clear explanation.

Fool On!
Aljo
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