I am living in Korea as an English teacher. I do not earn US taxable income, but I believe that any capital gains that I earn in the US stock market would count as US taxable income. Is this correct? If so, I wish to maximize my capital gains so as to minimize a potential tax punishment in the future for funding my Roth when I am technically not permitted to. My main question is this:If I own a stock for over a year, can I sell it on December 31 to take the capital gains. I still want to own the stock, and I believe it will continue to go up. Can I buy it again on January 1st? Is there any punishment for doing this? Again, I am doing this to increase taxable income, not decrease it. Therefore, I believe that the wash sale rule does not apply. Thanks in advance for any replies!Edyboom
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