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[[If you look in your tax manual (page D-4 of the IRS 1998 1040 tax manual)
under short term capital gains, it references two methods that one may use to
Defer
the payment of "Short Term" capital gains. One of the methods is to purchase
common stock within 60 days of selling a security which will be subject to short
term capital gains. I am simply looking for a definition of common stocks and,
weather or not can I purchase Common Stock for Microsoft or AOL from my
broker. ]]

I don't know what you are reading, but I think that you are making a bad interpretation. Believe me: If you sell your shares for a gain, you owe the taxes.

If you would like to wait until after April 15th and then post, word for word, what you are reading, I'll be glad to take a look at it and help you out with it.

TMF Taxes
Roy
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