How to Pay No Tax on Your Capital Gain Using a Free Step-Up in Basis
If a client sells stock for the capital gain and reset the cost basis, and then repurchases the same stock within 30 days, doesn’t that trigger the 30 day wash sale rule?
If a client sells stock for the capital gain and reset the cost basis, and then repurchases the same stock within 30 days, doesn’t that trigger the 30 day wash sale rule?
Permalink Submitted by Alan - IRA critic on Mon, 2016-09-12 23:59
No. Wash sales only apply to capital losses, not to gains.