I have recently started investing/trading and I have a very basic question about taxes. I apologise in advance if this is something that is obvious to everyone, but I could not find any concrete information on it on this site. I have bought 100 shares of X @ $85 in March, 100 @ $82 in April, and 100 @ $64 in May. My average cost is therefore $77/share. The current price is $78/share and I want to sell the shares now with the intention of buying them back lower in a week or so (basically, before 30 days of selling it). Although I have a small net gain on this share, will a part of the transaction be considered a wash sale since I am taking a loss in the first two lots of the shares I bought in March and April? What are the rules governing the taxes on such transactions?Thanks in advance.-anirudh
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