against the box

Against the box

Against the Box

Describing the action of short selling a security one owns. When one sells against the box, gains and losses are equalized by the long position on a security combined with the short position created by the short sale. One formerly sold against the box generally in order to be able to claim profits on the sale in the following tax year, but the Taxpayer Relief Act of 1997 largely removed this loophole.

against the box

References in periodicals archive ?
Take the excess wrapping paper from the top of the box and fold it down against the box. While keeping hold of that, take the bottom piece of paper and fold the peak of the triangle in to make a neat edge.
I just let one corner slip out of my hand so that one side struck against the box.
The firecracker can be lit by merely scratching the gunpowderladen stick against the box it comes in.
While some actors and producers chose to remain silent on the report, perfectionist Aamir Khan has come out and raised his voice against the box office collections.
Trace the top of the buzzer against the box lid and have someone help you cut out the rectangle with a craft knife.
Hold the coil against the box to gauge where to cut it to span the gap between the box and the surface of the wall.
When held up against the box office trends of other long-running shows in their first 15 years, the steep upward curve of the latter frames of "Lion King" stands out.
Then, measure the paper against the box and cut it to size.
Pressing my face against the box, I look through the small vent.
Not that you will hear a word against the box from me.
If a taxpayer owns a security (a long position), he is able to lock in the economic gain by "selling short against the box" (selling a borrowed security), or vice versa.
Gluttonous investors should heed its advice because Congress, through its enactment of the Taxpayer Relief Act of 1997,(2) has taken aim at the tax benefits once reaped by engaging in short sale against the box transactions.(3) Investors no longer will be able to enter into absolute hedges without recognition of capital gain; rather, they will be forced to recognize capital gain on appreciated financial positions even if those positions are not sold.