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Hello TMFTaxes,

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.

In addition has anyone invested in Specialized Small Business Investment Companies (SSBIC) or purchased Common Stock in an attempt to defer short term capital gains? If yes, please explain how I can benefit from using one of the methods described above?
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