My question is similar to this question except that I would be buying the same stock within the wash-rule period. If I sell a stock at a profit, and then use that money to re-purchase the same stock at a lower price within 30 days, would I still have to report the money I made from the original sale for that tax year?
As an example:
I buy 100 shares of A for $1 in 2010 I sell all 100 shares of stock A for $2 in 2011 I re-purchase 200 shares of A for $1 within 30 days
I've read about the wash rule, and somewhat understand that I can't report losses, but what about gains, is this a double standard?