Hi I'm a full time student (learning nothing related to business) and im new to shares, with the end of the financial year coming up i was wondering if there are any wash sale rules?
My income for the year is quite less than the lowest tax bracket ($6000) say $2500 and therefore i have about $3500 that can be made without incurring tax, so i was thinking about profit taking on one of my holdings to take advantage of this $3500 untaxable income i have, and then purchasing these shares back. Is this allowed?? Or is there a rule where i can only buy back 30 days later or something like that for my profit be counted as income. I've googled around without much luck.