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Let's suppose a person bought a stock at $10 per share. He/she held it for 1 year sold at loss at $7 but immediately bought back the stock at $7 at another brokerage firm. Later he/she sold the stock for $13.
Because of Superficial loss rule, he/she can't claim the capital loss of $7 minus $10 = -$3.

But what about the cost basis for the share he/she sold at $13 ? Is it $10 or $7 ? If the cost is considered to be $7, it produces a gain of $5 but in reality it's only $3. Then this is so unfair.
 

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If you sold for a loss at $7 because you wanted to sell and then had seller's remorse and bought back in at $7 at another brokerage then yes, it is so unfair.

However, if you just wanted to move the existing shares over to another brokerage, you should have initiated a transfer "in kind" without having to sell and buy back. That way you would not have incurred a superficial loss and it would be less unfair that way.
 

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