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

[FireFish]

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.

[LeeM · Accepted solution]

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.