My annual income this year is low enough to take advantage of gains harvesting on some long-term stock share profits to reset the cost basis for a portion of my overall holdings. The share amounts and purchase dates/prices are:
Purchase Date Shares Price 6/30/2006 182 $6.95 6/29/2007 84 $10.30
The stock is currently trading at ~$200 and I'll be looking to harvest about $20K worth.
Is there any reason why I would want to reset the cost basis on the 2006 shares vs the 2007 shares?
When harvesting, is there a generally a time limit on how long you can wait, after selling, to re-purchase the stocks?