I’m very confused about it and I don’t want to do the wrong thing. I Purchased a stock for let’s say 25K 3 months ago and then it dropped down to 19K in value which I sold a few days ago. I have a strong feeling that it will go back up at least a few grand to make up some of the losses. I do not want to try and use this as some sneaky right off tool I essentially just want to make back some of the loss. If i repurchase the stock today and its value becomes 23k am I responsible for paying taxes on that 4k jump even though I am still down for the year or can I just hold it and just not write off the remaining amount I lost which I am okay with.
I am getting very confused about this adding the cost basis and how this will impact my taxes.
Submitted December 11, 2019 at 10:57PM by SurePirate https://ift.tt/349d1wp
