dmertz
Level 15

Get your taxes done using TurboTax

The point of selling it and repurchasing it would be to harvest the capital gain in a year when it would be taxable at a rate that is less than what it would be if sold in a later year.  The sale and repurchase resets the cost basis to the repurchase price.  You are pulling into the current year what would otherwise be taxable gain in a future year.