Basically I need to sell and buy the same position in order to trigger a controlled capital gain for the current year. Is there a way to create a sort of combination order so I wouldn't incur the bid / ask spread cost? The combo components would be either at bit or ask price but I would need IB to match them for execution. Thanks.
I'm fairly certain IB will not allow you to trade against yourself. This would fall under 'wash trading'
Maybe sell it with a ITM short call expiring before EOY. You get the prem and it sells at the strike. Then buy it with an ITM short put? You get both prems, but maybe this is too complicated for what you are trying to do. And your basis would change.
Creating a gain only. The Chicago had a midpoint match program that the brokers would not break up so the stock part of Delta Neutral position could transfer. Not certain if it still exists since ICE put them on the Pillar platform. Ask your executing broker - it's now called the NYSE Chicago exchange. It wasn't fee-free - not sure about the wash sale rule to recognize the gain
https://www.investopedia.com/terms/w/washsalerule.asp same here https://www.bogleheads.org/wiki/Tax_gain_harvesting
Wash sales only apply to losses. If you want to basically realize gains, then obviously the government wants you to do that so they can collect taxes now instead of waiting for them sometime in the future (possibly after the gains disappear). I wish the wash sale also applied to gains, but it doesn't.