If I sell a stock this week which produces a long term capital gain on my 2007 taxes, are there any tax ramifications if I repurchase the same stock the next day (other than establishing a new basis)? ________________________________________Not much. But why do it? You're picking up a taxable gain, and converting a long-term position to a short-term position. Your holding period for the new shares will start when you buy them. Do you qualify for the 5% rate this year, so as to jack up your basis by paying minimal tax? If you stay in a low bracket, the gain will be 0 in 2008.Bill
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