I want to get a step-up in basis for a stock.

Earlier this year, I sold some ABC stock with a loss of $8244. I currently own some XYZ stock that has an un-realized gain of about $9000. I want to keep my XYZ stock. I could sell the XYZ and then immediately purchase different shares, but I would have to pay a broker.
Is there an way to take the gain, pay the capital gain on (about) $756, and get a step-up in basis for the XYZ to $9000 (or whatever the price is that day)?
Reply to
There's no way to do it other than to sell and repurchase. That would incur brokerage fees for both the sell and the buy, as you said, and there is also a risk that the price for the repurchase will be higher than what you got for the sale. Also make sure that your broker will allow you to make the purchase without waiting for the sale to be settled.
Bob Sandler
Reply to
Bob Sandler
You asked essentially this same question in this same newsgroup just a few years ago, and got essentially the same answer. (ditto for other questions, as I recall).
Although this is a free, anonymous resource, it seems basic netiquette would inspire you to not keep on doing this. At the very least, perhaps you could do a quick internet search first, to see if the information you seek is already available, again as a basic courtesy to the volunteer contributors here.
As an apparently high-net-worth, high-income individual, have you ever considered just paying for professional help? (or, if you are suffering from memory loss, perhaps seeking medical attention...)
Is paying a $20 tax deductible commission (combined buy/sell) really that big a deal to you?
Reply to
Mark Bole

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