Do the IRS rules pertaining to wash sales also apply in reverse, partically as relates to LT vrs ST capital gains?For example, On May 1 I purchase 100 shares ABC at $10. On November 1 I sell those 100 share at $15. Within 30 days, on December 15 I repurchase 100 shares of ABC at $17. Does the wash sale rule allow, or maybe even compell, me to claim the $2 per share increase as current income, while allowing the cost basis to remain at $10 for LT capital gains consideration?Wash sale rules only apply to losses. Since you sold at a profit, the wash sales rules do not come into effect. You have a short term gain from May 1 thru November 1. New transaction holding period started December 15.