No, the proceeds will be subject to the capital gains calculation on schedule 3, then 50% of the total gain will be taxed along with your other income.
Your friend may be getting mixed up with the 30-day rule. If you sell then re-buy a stock within 30 days, and have a loss, you cannot claim the loss at that time.
Your friend may be getting mixed up with the 30-day rule. If you sell then re-buy a stock within 30 days, and have a loss, you cannot claim the loss at that time.
