How does the capital gains & holding period of a long term held stock get affected by selling and buying back it within 30 days?

Question

I have held stocks for long term over 1 year periods and sold for losses then bought them back, triggering wash sales.

Now I am trying to sell the same stock ABC after holding for over 1 year.

1. Bought 100 shares stock ABC Jan 1, 2023 for $10
2. Sold 100 shares for $11 Feb 1, 2024
3. Bought 110 shares for $10

The 10 brand new shares purchased would be considered short term. What about the 100 repurchased shares? Are those still considered long term positions where I can sell for long term capital gains subject to long term capital gains taxes? or does it get reset to short term holdings subject to short term capital gains if I sell for a profit?

What would happen if you kept repeating buying & selling the same long term held stock within 30 days of the sale?

Similar Related Questions:

1. How does the "wash sale" rule work while selling for long term capital gains?

2. Does it count as long term gains if you buy and sell more shares of an existing stock holding?

Answer 1

Are those still considered long term positions where I can sell for long term capital gains subject to long term capital gains taxes?

Why would they? You purchased all the 110 at the same time. The fact that you had prior holdings is irrelevant here, you sold that and recognized the gain and it's gone.

Answer 2

Sold 100 shares for $11 Feb 1, 2024

At this point you generated $100 in long term capital gains

Bought 110 shares for $10

This is completely unrelated to the previous transactions (unless it were wash sale which it isn't). The clock starts fresh and it doesn't matter what stock you buy. Could be the same, could be different.