@ManifestMOASS @AustinTobitt@magsonthemoon@ThePPseedsShow You gotta read all of section 1233 though. The loophole you describe was closed in 1997 by section 1233(h)(1). Short sellers are forced to recognize taxable gain as soon as shorted property becomes substantially worthless.
One of the funnier effects of a decade of Trump is how many rightwing guys are now really chintzy and queeny like him. They're retvrnposting fancams of scarlett o'hara in ball gowns