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Gains and Losses on Futures Contracts have, in the past, been treated as
60% Long Term 40% Short Term. This is true regardless as to how long
the postion has been held. I am still unsure as to how the Capital
Gains Tax Cut will deal with this now that there are more than two
brackets. In the past, Losses could also be carried back up to three
years against Gains without the $3000.00 limit.
Tom.....
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