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House Passes Straddle Bill Expands Tax Treatment of Options
The House approved a bill allowing gains and losses from stock straddles to be offset more flexibly for tax purposes. The measure retroactively changes IRS rules on premium allocation between straddle components and aims to ease capital loss offset against ordinary income. The bill proceeds to the Senate for action. South Africa refused Britain’s request to stop Rhodesia bound cargo.
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South Africa
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Rhodesia