In a relatively slow tax news week, the Tax Court issued yet another published opinion dealing with the coordination of the capital loss rules of §1211 and the alternative minimum tax.  In the case of Palahnuk v. Commissioner, 127 T.C. No. 9 the Tax Court once again dashed the hopes of a taxpayer who exercised highly appreciated incentive stock options only to see their value plummet before the year had expired that would allow the taxpayer to sell the shares and get long term capital gain treatment for regular tax purposes.The materials can be downloaded from http://edzollars.com/2006-10-14_Lets_Try_This_Again.pdf .The podcast is sponsored by Leimberg Information Services, located at http://www.leimbergservices.com.