Tuesday, September 14, 2010

If I sell a stock on a gain and buy it back within 30 days, can I take advantage of the wash sale rule?

I know that if you sell a stock at a loss and buy it back within 30 days, the loss doesn't count towards your capital loss or short term loss. However, if you sell a stock at a gain and rebuy it within 30 days, does that gain count towards your short term or capital gains?