Assignment:
A taxpayer owns 100,000 shares of Microsoft Corporation, currently valued at $10 million. The taxpayer purchased the stock for $10 per share and thus has an unrealized gain of $9 million. The taxpayer faces a tax rate of 20% on capital gains. He has heard about a tax-deferral strategy called “shorting against the box.” Explain this strategy to the taxpayer.
Your answer must be typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.