I am new to this forum and a beginner at stock trading. I have a question regarding selling a stock and purchasing it back. If I have 100 shares of a stock and sell it for 100 dollars. The stock falls in price to 50 dollars and I buy back in within 30 days a d increase my position to 200 shares with the sale of the first 100 dollars, will there be a tax liability?
Well, here is the real scenario, Bought 116 shares of AAPL @ 175.00 per share and just sold @ 295.00 per share. Going to wait and get back In before the 30 day window passes and hopefully increase my position with the proceeds from the sale.
wash rule is if you lost money and bought the same stock within 30 days: A wash-sale rule is a regulation that prohibits a taxpayer from claiming a loss on the sale and repurchase of identical stock
You sound like a seasoned veteran of the markets. I know that it's only February and I should not be worried about taxes as of yet. Just hate giving the government money. Again, if this correction works in my favor, I will re enter with a greater position than previous. Does that make sense to you?
of course...whole point is to buy low, sell high...but death and taxes applies to most people ( except the rich )...lol
I did the same with my MSFT holdings hoping to re enter with a greater position. Did not want to go through weekend holding both APPL and MSFT. Your thoughts are welcome please.
I am a small investor and don't like making mistakes as none of us do. Unfortunately, most of my lessons in investing have come through the school of hard knocks. I am retired and trying to play this somewhat carefully if there is such a thing. Lol
That's the best way to learn - > school of hard knocks...I've been to that painful school as well....lol Def keep an eye on your stocks. No such thing as "buy and hold" nowadays.
Just curious, what your current take on the market is. I personally feel that there is more down days coming before we see a bottom.
I agree: Just my opinion, but I think they are going to play this corona virus BS for as long as they can, so the large traders can buy as low as they can.
