I want to sell a stock position that has increased in value significantly over several years (long-term) and then repurchase it after 31 days.I believe this will allow me to redefine my cost basis thus lowering my capital gains when I sell the stock decades from now when I am (hopefully) in a much higher tax bracket.What am I missing? 1. There's no need to wait 31 days before repurchasing. You're thinking of the wash sale rule, which applies only to sales for a loss.2. Don't forget the effect of commissions.3. Don't forget the effect on state taxes.PhilRule Your Retirement Home Fool
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