Hi.
We plan to sell long term profitable position worth 5000$ because we expect markets to fall for a few weeks.
We intend to buy it back within 30 days of the equal amount of 5000$
By doing this we were hoping to conserve the long term categorisation on this position. We are fine if the cost basis of our holding becomes lower.
Do advice if what I am thinking is correct and if anyone knows the relevant IRS rule that may apply.
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