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> I love tax law Why do they have a wash sale rule for stock sale losses but not for gains?

• refurb 6y ago
  Because people only do wash sales to capture losses offsetting gains?
  • sgerenser 6y ago
    Not true, if you’re in a low tax bracket stock gains can be tax free. It’s worth it to “tax gain harvest” by selling your stock once a year and immediately rebuying it. Unlike with a loss, the gain always counts and your basis gets reset to the new buy price.
    • refurb 6y ago
      Good point! No capital gains if your income is in the lowest bracket. Maybe this isn’t a major issue so the IRS hasn’t clamped down?
      • kortilla 6y ago
        Exactly, the IRS doesn’t care about clamping down on people in the lowest bracket.