Naseer Kara
Nov 17, 2022
Questions about Wash Sale
Assuming from a seed money of 100,000 dollars, you've repeatedly bought and sold Apple stocks until you've closed out with 110,000 dollars in account.
1. Do you only have to pay taxes for that 10,000 in profit?
2. If you sold some stocks at a loss during the exchange and bought them back later, you can't report it as being a loss due to wash sale rules. Do you have to report multiple instances of profits, however, when repeatedly buying and selling a single stock?
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