If I sell stock, rebuy it and sell it once again in the same year, am I charged twice the capital gains tax?

If I sell stock, rebuy it and sell it once again in the same year, am I charged twice the capital gains tax?

This of course assuming I profit from both sales.

1550

1 Best answer

New Member

Jun 4, 2019 12:56:33 PM

No, you would only be charged capital gains on your total profit.

So, if you made $1,000 on the first sale and $3,000 on the second sale, you would only pay capital gains on the $4,000 total.

Make sure that the basis you are using for the second sale is the price you rebought it for and not the original price.

New Member

Jun 4, 2019 12:56:33 PM

No, you would only be charged capital gains on your total profit.

So, if you made $1,000 on the first sale and $3,000 on the second sale, you would only pay capital gains on the $4,000 total.

Make sure that the basis you are using for the second sale is the price you rebought it for and not the original price.