I have a stock with I started buying around @$1,40. I bought some more @$1.20. Then some more @$0.90 to lower my average price. And I bought my last party @$0.60. The stock price is now @0.40 and going down.
I do not want to put any more money, so I want to sell the shares I have with a loss, and buy them back at a lower price to add up some more shares. I do not really care about using this loss in my tax return!
I am just trying to figure out if this is legal, and also will I need to pay any extra taxes because of doing this.
If anyone can help, will be greatly appreciated ...