I was wondering exactly how the 30 day rule works. Suppose I buy a stock for $50. I then sell that same stock a few days later for $45 at a loss. I then decide to buy that same stock back a couple days later at $50 again. I then sell it again at a $55 gain. My question is does the wash rule still apply, or do I have to pay a capital gains tax for the $5 gain, thus not receiving credit for the $5 loss since I didn't wait the 30 days before buying the same stock? Also what if I buy that same stock in December for $50 and then I sell the same stock on December 30th for a $45 loss again. Can I buy the same stock back the first day the market opens in January and still claim a capital loss for the last year?Thank ahead of time,Billy
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